Supporting the creation of a

Long Term Investment Intergroup For the legislature 2014-2019

http://longterminvestment.eu/

As the EU is emerging from the most severe financial crisis in its history, one of its main challenges now lies in the need to encourage long-term investments to support competitiveness, jobs creation and to revive smart, sustainable and inclusive growth.

Besides necessary structural reforms, there are particularly large unsatisfied needs as regards the financing of innovative businesses, especially for SMEs and mid-caps, infrastructures and the transition towards a resource-efficient, low-carbon economy that is more respectful of mankind and the environment. In order to move forward on the road to firm and sustainable growth, Europe must embark upon a decisive programme to support private and public investment.

With this objective in mind, we would like to express our support for setting up the proposed intergroup for the promotion of long-term financing of sustainable investment in favour of the European real economy. This intergroup would promote substantive debate on long-term investment related issues in the prospect of future regulatory framework initiatives and of contribution to stimulate investment. It would facilitate exchanges between the relevant European policy makers and stakeholders, and contribute to a strengthened dialogue with public and private long-term investors.

We are fully committed to contributing to this European debate.

http://longterminvestment.eu/

Caisse des Dépôts et Consignations (CDC) is designated by law as a public group dedicated to

promoting the general interest and the national economic development. In this context, CDC has

been entrusted with a role of long term investor and manages assets on behalf of the French State

and provides financial support infrastructures projects, and enterprises through its subsidiary

Bpifrance. For almost 200 years, it has never failed in its mission, whatever the economic situation,

thanks to proven know-how: an excellent awareness of local issues, through its presence and its close

proximity with each of the regions in France, a capacity to construct links between the public and

private sectors, to create innovative solutions which respond to collective needs. At European level,

CDC is one of the core sponsors of the Marguerite Fund which provides financing to projects in the

field of energy and transport infrastructures as well as renewable energy and fight against climate

change.

The European Centre of Employers and Enterprises providing Public Services (CEEP) is a European

association representing enterprises which carry out services of general economic interest,

regardless of their ownership or legal status. CEEP is one of the three cross-industry social partners

(Business Europe and CEEP as employers’ associations and ETUC as employee’s association) on

European level, recognized by the European institutions and it represents public sector employers in

the European Social Dialogue.

The European Construction Industry Federation (FIEC) gathers 33 national member federations in

29 European countries (28 EU & EFTA and Turkey). It represents, without discrimination,

construction enterprises of all sizes (from one person craftsmen and SMEs through to large

international firms), from all building and civil engineering specialities, engaged in all kinds of

working methods (whether operating as general/ main contractors or as sub-contractors). This

wide-ranging representativeness was officially recognised in a study undertaken on behalf of the

European Commission so that FIEC is the "Social Partner" representing employers in the European

Sectoral Social Dialogue "Construction".

http://longterminvestment.eu/

KfW is one of the world’s leading promotional banks. With its decades of experience, KfW is

committed to improving economic, social and ecological living conditions all around the world on

behalf of the Federal Republic of Germany and the federal states. To do this, it supplied funds

totalling EUR 72.5 billion in 2013 alone; and of this, 38 % went into measures for protecting the

environment and combating climate change. As a ‘Bank aus Verantwortung’ (a bank committed to

responsibility), KfW sustainably supports change in the economy, ecology and society. The main

focal points of its work are: Promotion of small and medium-sized companies and of start-ups,

programmes for energy-efficient refurbishment of residential buildings, support of measures to

protect the environment, educational finance for retail customers, funding programmes for

municipalities and regional development banks, export and project financing and promotion of

developing and transition countries.

UEAPME (Union Européenne de l’Artisanat et des Petites et Moyennes Entreprises) is the employer’s

organisation representing the interests of European Crafts, and SMEs at EU level. UEAPME is a

recognised European Social Partner and acts on behalf of Crafts and SMEs in the European Social

Dialogue and in discussions with the EU institutions. It is a non-profit seeking and non-partisan

organisation. As the European SME umbrella organisation, UEAPME incorporates around 80

member organisations consisting of national cross-sectorial SME federations, European branch

federations and other associate members, which support the SME family. Across the whole of

Europe, UEAPME represents over 12 million enterprises with nearly 55 million employees. As the

recognised voice for the interests of Crafts, and SMEs in Europe, UEAPME acts as an ’agenda setter’

in the area of European SME policy. It endeavours to ensure that the interests of crafts and SMEs are

taken into account in all legislation that has an impact on them. Some of the key legislative areas in

which UEAPME is active include: economic and fiscal policy, SME finance, employment and social

policy, environmental policy, enterprise policy, internal market, legal affairs, and R&D.

http://longterminvestment.eu/

European Family Businesses is the EU federation of national associations representing long-term

family owned enterprises, including small, medium-sized and larger companies. Family businesses

make up between 65 to 80% of all European companies, accounting for on average, 40 to 50% of all

jobs. They constitute a substantial part of existing European companies and have a significant role to

play in the strength and dynamism of the real economy. Family firms are important, not only

because they make an essential contribution to the economy, but also because of the long-term

stability they bring, the specific commitment they show to local communities, the responsibility they

feel as owners and the values they stand for.

Cassa Depositi e Prestiti (CDP) is a joint-stock company under public control, with the Italian

government holding 80.1% and a broad group of bank foundations holding 18.4%, the remaining

1.5% in treasury shares. Cassa Depositi e Prestiti manages a major share of the savings of Italians –

postal savings – which represent its main source of funding. CDP uses its resources to pursue its

institutional mission to support the growth of the country: it has long been the leader in financing

the investments of public entities it acts as a catalyst for the development of infrastructure it is key

player in supporting the Italian economy and national enterprise. CDP is the controlling shareholder

of Fondo Strategico Italiano (FSI) which acquires stakes in firms deemed to be of "significant

national interest" that are financially stable and offer significant growth and profit - generation

prospects. At European level, CDP is one of the core sponsors of the Marguerite Fund which provides

financing to projects in the field of energy and transport infrastructures as well as renewable energy

and fight against climate change. CDP is a founding member of the Long-Term Investors Club (LTIC)

and of the European Long-Term Investors Association (ELTI), which brings together long-term

institutional investors from around the European Union. Its goal is to affirm the key role that long-

term investing plays in spurring European economic growth and ensuring financial stability.

http://longterminvestment.eu/

Eurosif is the leading pan-European sustainable and responsible investment (SRI) membership

organisation whose mission is to promote sustainability through European financial markets.

Eurosif works as a partnership of Europe-based national Sustainable Investment Forums (SIFs)

with the direct support of over 65 Member Affiliate organisations drawn from the sustainable

investment industry value chain. These Member Affiliates include institutional investors, asset

managers, financial services, index providers and ESG research and analysis firms totalling over €1

trillion assets. Eurosif’s indirect European network spans across over 500 Europe-based

organisations. Eurosif is also a founding member of the Global Sustainable Investment Alliance, the

alliance of the largest SIFs around the world. The main activities of Eurosif are public policy,

research and creating platforms for nurturing sustainable investing best practices.

European Partners for the Environment (EPE) has been launched by 1994. EPE stimulates collective

intelligence on "new generation of partnerships" for sustainable development in a global,

interconnected and interdependent world to design systemic tools, foster ‘radical collaboration’ in

view of Resource Efficiency, Resilience, Equity & Just Transition, Well Being. EPE explores how to

scale up partnerships best practices with 3 main objectives: massive change, systemic change, green-

economy and good-life-for-all value chain partnerships. EPE has conducted several studies on how

to mobilise private capital as Funding the Development of Environmental Technologies

(FUNDETEC) and is advocating in favour of a ‘European Innovation Partnership on Capital

Stewardship’.

The Instituto de Crédito Oficial (ICO) was founded in 1971 as the institution responsible for

coordinating and controlling Spain’s state-owned banks. It is currently a State-owned bank with its

own legal status, equity and cash assets. It is self-governing and is attached to the Ministry of

Economic Affairs and Competitiveness through the State Secretariat of Economic Affairs and

Enterprise. ICO has the legal status of a credit institution and is classified as the Government’s

Financial Agency. Its functions now became mainly to promote economic activities contributing to

growth, the development of the country and improving the distribution of the national wealth.

Particularly, those activities of a social, cultural, environmental or innovative significance are

awarded special attention.

http://longterminvestment.eu/

The Union of the Electricity Industry (EURELECTRIC) is the sector association which represents the

common interests of the electricity industry at pan-European level, plus its affiliates and associates

on several other continents. We currently have over 30 full members which represent the electricity

industry in 32 European countries. EURELECTRIC's mission is to contribute to the development and

competitiveness of the electricity industry, to provide effective representation for the industry in

public affairs and to promote the role of a low-carbon electricity mix in the advancement of society.

Currently, EURELECTRIC's three major objectives are: Delivering carbon-neutral electricity in

Europe by 2050, Ensuring a cost-efficient, reliable supply through an integrated market, Developing

energy efficiency and the electrification of the demand-side to mitigate climate change.

The Union Française de l'Electricité (UFE), is the trade association for the French electricity sector

and defends the interests of its members, generators, system operators or electricity suppliers, in the

economic, social and industrial field. UFE brings together either directly or indirectly more than 500

companies, employing over 120,000 people in France and with total sales in excess of 30 billion

euros. UFE’s main task is to develop a long term vision of the electricity system in France as well as

in Europe, through a low carbon strategy designed to fight climate change while ensuring security of

supply and the competitiveness of the economy, and supporting the renaissance of European

industries.

Established in 1967, the European Mortgage Federation (EMF) is the voice of the European mortgage industry, representing the interests of mortgage lenders and covered bond issuers at European level. The volume of outstanding mortgage loans in the EU amounted to €6.7 trillion at the end of 2013. As of November 2014, the EMF has 19 members across 14 EU Member States as well as a number of observer members in the EU and the Russian Federation.

http://longterminvestment.eu/

Confrontations Europe is a non-for-profit civil society organization, founded by former MEP

Philippe Herzog . Strong of its experience, it has managed to gather corporate managers, unionists,

territorial players, members of the civil society, politicians, intellectuals and students from numerous

countries in Europe, all committed to one idea: the active participation of civil society in the

construction of Europe. In the context of the financial and economic crisis, the organization calls for

the consolidation of the European Union so as to get out of the crisis towards a new growth model.

Since its creation, Confrontations Europe has fostered deeper integration of the Internal Market, the

implementation of structuring projects in Europe and the reform of the economic and monetary

Union (EMU). Today more than ever, Confrontations Europe is convinced of the urgent need to

reform the architecture of the Eurozone to strengthen cooperations and solidarity in the EU and to

rebuild the capacity to govern while restoring competitiveness and sustainable development

potential throughout Europe. Confrontations Europe is organizing a high-level conference on

European Long-Term Investment, “A new beginning for investment » in Brussels, 3 & 4 December, to

open an economic and political dialogue calling for civil society involvement and more responsibility

sharing and solidarity between the public and private sectors. The aim is to restore confidence and to

move closer towards a common investment policy.

EIM, the association of European Rail Infrastructure Managers, has been established in 2002 to

promote the interests and views of the independent infrastructure managers in Europe, following the

liberalisation of the EU railway market. EIM provides political, technical, financial and business

expertise to all the relevant European bodies – such as the European Commission, the European

Parliament and the European Railway Agency (ERA). EIM’s primary goal is promoting growth of

rail traffic and the development of an open, sustainable, efficient and customer orientated rail

network in Europe. Furthermore, in close cooperation with the European Commission, EIM has

continued strengthening the Platform for Rail Infrastructure Managers in Europe (PRIME) for an

open and fruitful dialogue between policy makers and the infrastructure industry.

The European Covered Bond Council (ECBC) was established by the EMF in 2004 as a platform to

bring together covered bond market participants including covered bond issuers, analysts,

investment bankers, rating agencies and a wide range of interested stakeholders. As of October 2014,

the ECBC has over 100 members across 25 active covered bond jurisdictions and many different

market segments. ECBC members represent over 95% of covered bonds outstanding, which were

worth over €2.6 trillion at the end of 2013.

http://longterminvestment.eu/

The European Competitive Telecommunications Association (ECTA) is the pan-European pro-

competitive trade association that represents more than 100 of the leading challenger telecoms

operators across Europe. For over a decade, ECTA has been supporting the regulatory and

commercial interests of telecoms operators, ISPs & equipment manufacturers in pursuit of a fair

regulatory environment that allows all electronic communications providers to compete on level

terms. Our members have been the leading innovators in Internet services, broadband, business

communications, entertainment and mobile. Boosting the European economy and creating jobs,

growth and investments are key priorities as well as challenges for European policy makers. Next

generation broadband infrastructure and innovative digital services are important enablers of all

other sectors as well as a connected and knowledge based society. Nurturing competition and

enabling all players to invest will drive broadband infrastructure investments and maximise benefits

for end-users. We have to ensure that European consumers and businesses have the best choice,

quality and affordable prices of communications services, which in turn will get them connected,

building a digital economy and society. History taught us that in traditional broadband it was

competition that drove the take-up of the then new broadband services. However, today in next

generation broadband the former monopolies have a staggering over 80% market share (According

to the 2014 Digital Agenda Scoreboard on Broadband markets, incumbents have over 80% of

subscriptions in VDSL). In order to reap the economic benefits of digital innovation, competition

should be nurtured and all interested parties should be able to invest, as more players simply invest

more. In ECTA’s view, promoting competition is more important today than ever as it is sustainable

and effective competition that drives investments, end-user benefits and fuels the economy.

Insurance Europe is the European insurance and reinsurance federation. Through its 34 member

bodies — the national insurance associations — Insurance Europe represents all types of insurance

and reinsurance undertakings, eg pan-European companies, monoliners, mutuals and SMEs.

Insurance Europe, which is based in Brussels, represents undertakings that account for around 95%

of total European premium income. Insurance makes a major contribution to Europe’s economic

growth and development. European insurers generate premium income of more than €1 110bn,

employ almost one million people and the insurance industry is the largest institutional investor in

Europe with over €8500bn of assets in the economy.