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Europe Daily Bulletin No. 13339

31 January 2024
Contents Publication in full By article 18 / 39
ECONOMY - FINANCE - BUSINESS / Insurance
‘Solvency II’ and IRRD – MEPs approve agreement reached with EU Council
Brussels, 30/01/2024 (Agence Europe)

On Monday 29 January, the Committee on Economic and Monetary Affairs (ECON) formally approved the agreement provisionally reached with the Council of the EU last December (see EUROPE B13314A14) on a revision of the solvency regime applicable to companies in the insurance sector (‘Solvency II’) and the implementation of a harmonised framework for recovery in the event of insurance company insolvency (‘IRRD’).

Approved by a large majority (30 votes in favour, none against and 4...

Contents

SECTORAL POLICIES
CLIMATE: towards a target of a 90% reduction in emissions in 2040, European Commission says current efforts are not sufficient
AGRICULTURE: European Commission makes first move on set-aside, while France calls for more measures for farmers
TRANSPORT: European Parliament/EU Council agreement on revised rules for occasional passenger transport sector
ENVIRONMENT: EU Council ready to negotiate with European Parliament on revision of ‘Mercury’ Regulation
HEALTH: Frank Vandenbroucke hopes for rapid agreement on ‘shortages’ aspect of pharmaceutical package
FISHERIES: European Commission proposes negotiating new fisheries protocol with Côte d’Ivoire
TOURISM: European Commission says sector stakeholders have successfully engaged in green and digital transition
SECURITY - DEFENCE - SPACE
DEFENCE: support for Ukraine, state of defence preparedness and situations in Sahel and Red Sea on agenda of informal meeting of European defence ministers
EXTERNAL ACTION
MERCOSUR: European Commission admits that conditions are not ripe for concluding negotiations on EU/Mercosur agreement
UNITED STATES: Valdis Dombrovskis criticises absence of agreement on steel and aluminium and on critical minerals with Washington
MIDDLE EAST: Josep Borrell promises UNRWA funding has not been suspended
ASIA/PACIFIC: EU to address geopolitical, economic and climate challenges with its partners in South-East Asia and Indo-Pacific region
HEALTH: new plea from EU Council to keep global health at top of multilateral agenda
Russian invasion of Ukraine
ECONOMY: EU Council agrees on confiscation of profits generated by Russian public assets frozen in EU
EUROPEAN PARLIAMENT: MEP Tatjana Ždanoka is target of European Parliament investigation into possible spying for Russia
ECONOMY - FINANCE - BUSINESS
ECONOMY: Institut Rousseau estimates that additional investment of €360 billion a year is needed to make EU’s climate transition a success
COMPANIES: European Parliament and EU Council reach agreement on finalised version of directive governing corporate due diligence
INSURANCE: ‘Solvency II’ and IRRD – MEPs approve agreement reached with EU Council
FINANCE: ‘Listing Act’ – European Parliament and EU Council negotiators close to agreement
ECB: ECB sets out climate and nature actions alongside studies planned for 2024-2025
STATE AID: European Commission opens in-depth investigation into two Swedish schemes in favour of biogas and biopropane producers
STATE AID: European Commission approves two German aid schemes worth around €1 billion for pig farmers
INSTITUTIONAL
EP2024: with an eye on elections, European Green Party is advocating climate justice, social solidarity and strengthening of democracy
EEAS: EEAS must ensure better interaction with EU delegations, according to European Court of Auditors
COURT OF JUSTICE OF THE EU
MIGRATION: Court of Justice clarifies conditions governing right to family reunification for unaccompanied minors who come of age during procedure
AUDIOVISUAL: audiovisual media services – EU Court of Justice interprets time limit on television advertising spots
TAXATION: CJEU says employee using employer’s details to issue fake invoices is liable for amount of tax involved
JUSTICE: right to erasure – according to CJEU, Bulgarian regulations on retaining convicted persons’ data do not comply with EU law
SOCIAL AFFAIRS
SOCIAL: digital platform workers, European Parliament signals disagreement with EU Council’s latest revised mandate
SOCIAL/EMPLOYMENT: asbestos in buildings, European trade unions call on European Commission to keep its promises to protect workers
FUNDAMENTAL RIGHTS - SOCIETAL ISSUES
FUNDAMENTAL RIGHTS: against LGBTQI discrimination, Forbidden Colours calls on EU to use human rights-based approach to regulate AI
NEWS BRIEFS
HOME AFFAIRS: reform of Schengen Borders Code, negotiations continue between Belgian Presidency of EU Council of the EU and European Parliament
STATE AID: European Commission authorises €550 million Italian aid scheme to replace fossil fuels in industrial processes
COMPETITION: European Commission conducts unannounced inspections in new replacement tyre sector
ENERGY: global gas demand set to rise by 2.5% in 2024, according to IEA
DIGITAL: Belgian Presidency of EU Council attempts to reassure other Member States about compromise reached before vote on AI Act
DIGITAL: tech industry calls on European policymakers to “consider all available technologies to meet 2030 connectivity targets”
CSDP: Peter Kolding’s mandate as head of EUCAP Sahel Mali mission extended
CORRIGENDUM
MIGRATION: Asylum and Migration Pact – confirmation vote planned for February in Parliament’s Committee on Civil Liberties