### the export , import and manufacturing of a range of mercury - added products accounting for a significant share of the use of mercury and mercury compounds within the union and globally should be prohibited . ### the export , import and manufacturing of a range of mercury - added products accounting for a significant share of the use of mercury and mercury compounds within the union and globally should be prohibited ; continued use should be strictly monitored and meet the conditions set out in articles 3 and 4 of this regulation .


### assist , advise and cooperate with the commission as well as nras , on request or on its own initiative , on any technical matter within its mandate , and assist and advise the european parliament and the council on request ; ### assist , advise and cooperate with the commission as well as nras , on request or on its own initiative , on any technical matter within its mandate , and provide an opinion or a recommendation to the european parliament , the council and the commission on request or on its own initiative on any of the issues relating to the purpose for which it has been established ;


### the management board shall be composed of one representative from each member state and two representatives of the commission , all with voting rights . each nra shall be responsible for nominating its respective representative amongst the head or members of the collegiate body of the nra . ### the management board shall be composed of one representative from each member state all with voting rights . each nra shall be responsible for nominating its respective representative amongst the head or members of the collegiate body of the nra . the commission shall have the right to participate in the activities and meetings of the management board without voting right . the commission shall designate two representatives . the chair of the board shall communicate to the commission the activities of the board .


### berec shall pursue the same objectives as those of national regulatory authorities referred to in article 3 of the directive . in particular , berec shall ensure a consistent implementation of the regulatory framework for electronic communications within the scope referred to in paragraph 2 and thereby contribute to the development of the internal market . it shall also promote access to , and take - up of , very high capacity data connectivity ; competition in the provision of electronic communications networks , services and associated facilities ; and the interests of the citizens of the union . ### berec shall as primary objectives ensure a consistent implementation of the regulatory framework for electronic communications within the scope referred to in paragraph 2 and contribute to the development of the internal market , thereby contributing to the objectives referred to in article 3 of the directive [ . . . ] of promoting access to , and take - up of , very high capacity data connectivity , competition in the provision of electronic communications networks , services and associated facilities , and the interests of the citizens of the union .


### monitor and coordinate the action of nras in applying regulation no 531 / 2012 , in particular as regards the provision of regulated retail roaming services at domestic prices in the interests of end - users ; ### monitor and coordinate the action of nras in applying regulation no 531 / 2012 , in particular as regards the provision of regulated retail roaming services at domestic prices in the interests of end - users , the evolution of retail and wholesale charges for roaming services and on transparency and comparability of tariffs in accordance with article 19 of regulation no&#160 ; 531 / 2012 ;


### the advanced digital technologies supported by this programme , such as high performance computing , cybersecurity and artificial intelligence are now sufficiently mature to move beyond the research arena and be deployed , implemented and scaled - up at union level . just as the deployment of these technologies require a union response so does the skills dimension . training opportunities in advanced digital skills need to be scaled up , increased and made accessible throughout the eu . failing this could impede the smooth deployment of advanced digital technologies and hamper the overall competitiveness of union ' s economy . the actions supported by this programme are complementary to those supported by the esf , erdf and horizon europe programmes . ### the advanced digital technologies supported by this programme , such as high performance computing , cybersecurity and artificial intelligence are now sufficiently mature to move beyond the research arena and be deployed , implemented and scaled - up at union level . just as the deployment of these technologies requires a union response so does the skills dimension . training opportunities in advanced digital skills need to be scaled up , increased and made accessible throughout the eu , in particular for employees in the sectors that will be most affected by digital innovations . failing this could impede the smooth deployment of advanced digital technologies and hamper the overall competitiveness of the union ' s economy . the actions supported by this programme are complementary to those supported by the esf , erdf , cef and horizon europe programmes .


### the commission shall conclude an agreement with the european investment bank on the establishment of a european fund for strategic investments . the purpose of the efsi shall be to support investments in the union and to ensure increased access to financing for companies having up to 3000 employees , with a particular focus on small and medium enterprises , through the supply of risk bearing capacity to the eib . 2 . the efsi agreement shall be open to accession by member states . subject to the consent of existing contributors , the efsi agreement shall also be open to accession by other third parties , including national promotional banks or public agencies owned or controlled by member states , and private sector entities . ### this regulation establishes a european fund for strategic investments , an eu guarantee and an eu guarantee fund . 2 . to that effect , this regulation provides for the commission to negotiate a draft agreement with the european investment bank for the management of the european fund for strategic investments . this agreement shall solely contain technical and administrative elements , and shall be in full compliance with the requirements set - out in this regulation . 3 . the commission shall be empowered to enter into the efsi agreement on behalf of the union , and to accept later amendments to it , by means of a delegated act in accordance with article 17 , provided that the efsi agreement meets the requirements of this regulation . 4 . the purpose of the efsi shall be to support investments in the union conducive to competitive and sustainable growth with a view to overcome the investment gap among its member states . through the supply of risk bearing capacity to the eib the efsi shall : - support long term , productive and strategic investments ; - ensure increased access to financing for companies having up to 3000 employees , with a particular focus on start - ups , micro - enterprises , small , and medium - sized enterprises , small mid - caps . 5 . the efsi agreement shall be open to accession by member states under the terms laid out in the efsi agreement . subject to the consent of existing contributors , the efsi agreement shall also be open to accession by other third parties , including national promotional banks or public agencies owned or controlled by member states , and private sector entities . 6 . guarantees under this regulation shall only be committed by the investment committee to operations and projects that shall be contractually agreed and signed within three years after the commitment . if the operations and projects are not singed within three years after the commitment , the commitment has to expire .


### to partially finance the contribution from the union budget , the available envelopes of the horizon 2020 – the framework programme for research and innovation 2014 - 2020 , provided by regulation no 1291 / 2013 of the european parliament and of the council2 , and the connecting europe facility , provided by regulation no 1316 / 2013 of the european parliament and of the council3 , should be reduced . those programmes serve purposes that are not replicated by the efsi . however , the reduction of both programmes to finance the guarantee fund is expected to ensure a greater investment in certain areas of their respective mandates than is possible through the existing programmes . the efsi should be able to leverage the eu guarantee to multiply the financial effect within those areas of research , development and innovation and transport , telecommunications and energy infrastructure compared to if the resources had been spent via grants within the planned horizon 2020 and connecting europe facility programmes . it is , therefore , appropriate to redirect part of the funding presently envisaged for those programmes to the benefit of efsi . __________________ 2 regulation no 1291 / 2013 of the european parliament and of the council of 11 december 2013 establishing horizon 2020 - the framework programme for research and innovation and repealing decision no 1982 / 2006 / ec . 3 regulation no 1316 / 2013 of the european parliament and of the council of 11 december 2013 establishing the connecting europe facility , amending regulation no 913 / 2010 and repealing regulations no 680 / 2007 and no 67 / 2010 . ### the contribution from the union budget will be progressively authorised by the european parliament and the council in the framework of the annual budgetary procedures up to 2020 . for this purpose , the budgetary authority should make use , where appropriate , of all available flexibility mechanisms and other relevant provisions under council regulation no 1311 / 2013 .


### the eib , in cooperation with the eif as appropriate , shall report annually to the european parliament and to the council on eib financing and investment operations . the report shall be made public and include : ### the eib , in cooperation with the eif as appropriate , shall report annually to the european parliament , to the council and to the court of auditors on eib financing and investment operations under this regulation . the annual report shall be made public and include :


### the managing director and the deputy managing director shall be appointed by the steering board on a joint proposal of the commission and the eib for a renewable fixed term of three years . ### the managing director and the deputy managing director shall be appointed by the steering board on a joint proposal of the commission and the eib for a renewable fixed term of three years and not exceeding 6 years in total . the managing director and the deputy managing director shall be appointed following an open and transparent selection procedure .


### decisions on the use of the efsi support for infrastructure and large mid - cap projects should be made by an investment committee . the investment committee should be composed of independent experts who are knowledgeable and experienced in the areas of investment projects . the investment committee should be accountable to a steering board of the efsi , who should supervise the fulfilment of the efsi ' s objectives . to effectively benefit from the experience of the eif , the efsi should support funding to the eif to allow the eif to undertake individual projects in the areas of small and medium enterprises and small mid - cap companies . ### decisions on the use of the efsi support for infrastructure and large mid - cap projects should be made by an investment committee . the investment committee should be composed of independent experts who are knowledgeable and experienced in the areas of investment projects . the investment committee shall carry out its responsibilities fully independently and in line with the criteria set out in this regulation , as this is key to protect the eib´s credit rating and ensure the trust and participation of the private sector in the investment plan . the investment committee shall not take any instructions from third entities regarding the selection of individual projects to be funded by efsi , but shall be accountable to a steering board of the efsi , who supervises the fulfilment of the efsi ' s objectives . to effectively benefit from the experience of the eif , the efsi shall support funding to the eif to allow the eif to undertake individual projects in the areas of small and medium enterprises and small mid - cap companies .


### at the latest [ po insert date three years after the entry into force of this regulation ] , the commission shall submit a report to the european parliament and the council on the application of this regulation accompanied by any relevant proposal . ### at the latest [ po insert date three years after the entry into force of this regulation ] , the commission shall submit to the european parliament and the council a comprehensive quality assessment to evaluate the true socio - economic impact of this special strategic plan on the application of this regulation accompanied by any relevant proposal .


### at the latest [ po insert date three years after the entry into force of this regulation ] , the commission shall submit a report to the european parliament and the council on the application of this regulation accompanied by any relevant proposal . ### at the latest [ po insert date three years after the entry into force of this regulation ] , the commission shall submit to the european parliament and the council a comprehensive quality assessment to evaluate the true socio - economic effect of this special strategic plan on the application of this regulation accompanied by any relevant proposal


### development of infrastructure , including in the areas of transport , particularly in industrial centres ; energy , in particular energy interconnections ; and digital infrastructure ; ### development of infrastructure , including in the areas of transport , &#160 ; with priority&#160 ; for the ten - t network as defined in the ten - t guidelines ; &#160 ; energy , in particular energy interconnections ; and digital infrastructure ;


### the eib shall notify olaf promptly and provide it with the necessary information when , at any stage of the preparation , implementation or closure of operations subject to the eu guarantee , it has grounds to suspect that there is a potential case of fraud , corruption , money laundering or other illegal activity that may affect the financial interests of the union . ### the eib shall notify olaf promptly and provide it with the necessary information when , at any stage of the preparation , implementation or closure of operations subject to the eu guarantee , it has grounds to suspect that there is a potential case of conflict of interests , fraud , corruption , money laundering or other illegal activity that may affect the financial interests of the union .


### payments from the general budget of the union , ### contributions from the general budget of the union ,


### the commission and the eib , with support from the member states , shall promote the creation of a transparent pipeline of current and potential future investment projects in the union . the pipeline is without prejudice to the final projects selected for support according to article 3 . ### the commission and the eib , with support from the member states , shall promote the creation of a transparent&#160 ; pipeline of current and potential future investment projects in the union . the pipeline shall be for visibility to investors and information purposes only , and shall be&#160 ; without prejudice to the final projects selected for support according to article 3 .


### to meet that objective , the eiah shall use the expertise of the eib , the commission , national promotional banks and the managing authorities of the european structural and investment funds . ### to meet that objective , the eiah shall use the expertise of the eib , the commission , national and regional promotional banks and the managing authorities of the european structural , agricultural and investment funds .


### the efsi should target projects with a higher risk - return profile than existing eib and union instruments to ensure additionality over existing operations . the efsi should finance projects across the union , including in the countries most affected by the financial crisis . the efsi should only be used where financing is not available from other sources on reasonable terms . ### the efsi should target projects with a higher risk - return profile than existing eib and union instruments to ensure additionality over existing operations . the efsi should aim at financing projects across the whole of the union by taking into account the criteria of additionality and high risk - profile in its investment policies . the efsi should only be used where financing is not available from other sources .


### the efsi agreement shall provide that the efsi shall have an investment committee , which shall be responsible for examining potential operations in line with the efsi investment policies and approving the support of the eu guarantee for operations in line with article 5 , irrespective of their geographic location . the investment committee shall be composed of six independent experts and the managing director . independent experts shall have a high level of relevant market experience in project finance and be appointed by the steering board for a renewable fixed term of three years . decisions of the investment committee shall be taken by simple majority . ### the efsi agreement shall provide that the efsi shall have an investment committee , which shall be responsible for examining potential operations in line with the efsi investment policies and approving the support of the eu guarantee for operations in line with article 5 , irrespective of their geographic location . the investment committee shall be composed of eight independent experts , and the managing director and a representative of the commission . independent experts shall have a high level of relevant market experience in project finance as well as in the investment areas concerned by the efsi as defined in article 5 , paragraph 2 , and be selected by the steering board for a renewable fixed term of three years not exceeding six years in total . their recruitment follows a transparent procedure and their declaration of financial interests is transmitted to the commission , the european parliament and the council . the representative of the commission shall have no voting power but shall confirm the consistency of potential operations with union policies . he / she shall co - operate closely with the respective directorates - general of the commission depending on the investment areas of the projects . in the transport sector , the investment committee shall take into account recommendations expressed by respective directorate - general of the commission . decisions of the investment committee shall be taken by simple majority and approved by the steering board .


### throughout the economic and financial crisis , the union has made efforts to promote growth , in particular through initiatives set out in the europe 2020 strategy that put in place an approach for smart , sustainable and inclusive growth . the european investment bank has also strengthened its role in instigating and promoting investment within the union , partly by way of an increase in capital in january 2013 . further action is required to ensure that the investment needs of the union are addressed and that the liquidity available on the market is used efficiently and channelled towards the funding of viable investment projects . ### throughout the economic and financial crisis , the union has made efforts to promote growth , in particular through initiatives set out in the europe 2020 strategy , that put in place an approach for smart , sustainable and inclusive growth , and through the european semester for economic policy coordination . the european investment bank has also strengthened its role in instigating and promoting investment within the union , partly by way of an increase in capital in january 2013 . further action is required to ensure that the investment needs of the union are addressed and that the liquidity available on the market is used efficiently and channelled towards the funding of viable investment projects .


### the efsi agreement shall be open to accession by member states . subject to the consent of existing contributors , the efsi agreement shall also be open to accession by other third parties , including national promotional banks or public agencies owned or controlled by member states , and private sector entities . ### the efsi agreement shall be open to accession by member states . subject to the consent of existing contributors , the efsi agreement shall also be open to accession by other third parties , including national promotional banks or public agencies owned or controlled by member states , regional and local authorities , and private sector entities .


### member states shall develop , update and disseminate , on a regular and structured basis , information on current and future investment projects in their territory . ### member states and regional and local authorities shall develop , update and disseminate , on a regular and structured basis , information on current and future investment projects in their territory .


### the commission shall , by 30 june of each year , send to the european parliament , the council and the court of auditors an annual report on the situation of the guarantee fund and the management thereof in the previous calendar year . ### the commission shall , by 31 march of each year , send to the european parliament , the council and the court of auditors the annual accounts , the financial statement and an annual report in accordance with regulation no 996 / 2012 on the situation of the efsi and the management thereof in the previous calendar year . this report shall also give information on the adequacy of the level of the eu guarantee and , if necessary , recommendations on adjusting its level .


### the investment committee shall be composed of six independent experts and the managing director . independent experts shall have a high level of relevant market experience in project finance and be appointed by the steering board for a renewable fixed term of three years . ### the investment committee shall be composed of eight independent experts and the managing director . independent experts shall have a high level of relevant market experience in project structuring and project financing , as well as macroeconomic expertise . the investment committee shall have a pluridisciplinary composition encompassing a broad range of expertise in various sectors , such as research and development , transport and smes . it shall be appointed by the steering board for a renewable fixed term of three years .


### from 1 january 2019 , if as a result of calls on the guarantee , the level of the guarantee fund falls below 50% of the target amount , the commission shall submit a report on exceptional measures that may be required to replenish it . ### from 1 january 2018 , if as a result of calls on the guarantee , the resources of the guarantee fund falls below 50 % of the target amount , the commission shall submit a report on exceptional measures that may be required to replenish it . if the commission deems this to be necessary , it shall present recommendations on adjusting the level of the guarantee .


### any surplus shall be paid in one transaction to a special heading in the statement of revenue in the general budget of the european union of the year n + 1 , ### any surplus shall be paid in one transaction to a special heading in the statement of revenue in the general budget of the european union of the year n + 1 , and shall be reallocated to programmes which envelopes might have been reduced to finance the guarantee fund , as referred to in paragraph 5a , in order to compensate these losses ;


### the investment committee shall be composed of six independent experts and the managing director . independent experts shall have a high level of relevant market experience in project finance and be appointed by the steering board for a renewable fixed term of three years . ### the investment committee shall be composed of six independent experts and the managing director . independent experts shall have a high level of relevant market experience in project finance , and expertise in the general objectives referred to article 5 . experts shall be appointed by the steering board following an open and transparent procedure for a fixed term of three years , renewable only once . it must be ensured that project selection is based on eib principles and guided by a set of sustainability criteria as defined in article 5 .


### any other payments received by the union in accordance with the efsi agreement . ### any other contributions received by the union in accordance with the efsi agreement .


### an eu guarantee fund shall be established from which the eib may be paid in the event of a call on the eu guarantee . 2 . the guarantee fund shall be endowed by : payments from the general budget of the union , returns on guarantee fund resources invested , amounts recovered from defaulting debtors in accordance with the recovery procedure laid down in the efsi agreement as provided for in article 2 , any other payments received by the union in accordance with the efsi agreement . 3 . endowments to the guarantee fund provided for in points and of paragraph 2 shall constitute internal assigned revenues in accordance with article 21 of regulation no 966 / 2012 . 4 . the resources of the guarantee fund provided to it under paragraph 2 shall be directly managed by the commission and invested in accordance with the principle of sound financial management and follow appropriate prudential rules . 5 . endowments to the guarantee fund referred to in paragraph 2 shall be used to reach an appropriate level to reflect the total eu guarantee obligations . the target amount shall be set at 50% of the union ' s total guarantee obligations . the target amount shall initially be met by the gradual payment of resources referred to in paragraph 2 . if there have been calls on the guarantee during the initial constitution of the guarantee fund , endowments to the guarantee fund provided for in points , and of paragraph 2 shall also contribute to meet the target amount up to an amount equal to the calls on the guarantee . 6 . by 31 december 2018 , and every year thereafter , the commission shall review the adequacy of the level of the guarantee fund taking into account any reduction of resources resulting from the activation of the guarantee and the eib ' s assessment submitted in accordance with article 10 . the commission shall be empowered to adopt delegated acts in accordance with article 17 adjusting the target amount provided for in paragraph 5 by a maximum of 10% to better reflect the potential risk of the eu guarantee being called . 7 . following an adjustment in year n of the target amount or an assessment on the adequacy of the level of the guarantee fund in accordance with the review provided for in paragraph 6 : any surplus shall be paid in one transaction to a special heading in the statement of revenue in the general budget of the european union of the year n + 1 , any replenishment of the guarantee fund shall be paid in annual tranches during a maximum period of three years starting on year n + 1 . 8 . from 1 january 2019 , if as a result of calls on the guarantee , the level of the guarantee fund falls below 50% of the target amount , the commission shall submit a report on exceptional measures that may be required to replenish it . 9 . subsequent to a call on the eu guarantee , endowments to the guarantee fund provided for in points , and of paragraph 2 over and above the target amount shall be used to restore the eu guarantee up to its initial amount . ### an eu guarantee fund shall be established which shall constitute a liquidity cushion from which the eib shall be paid in the event of a call on the eu guarantee . 2 . the guarantee fund shall be endowed by : contributions from the general budget of the union ; returns on guarantee fund resources invested ; amounts recovered from defaulting debtors in accordance with the recovery procedure laid down in the efsi agreement as provided for in point of article 2 ; revenues and any other payments received by the union in accordance with the efsi agreement . 3 . endowments to the guarantee fund provided for in points , and of paragraph 2 shall constitute internal assigned revenues in accordance with article 21 of regulation no 966 / 2012 . 4 . the resources of the guarantee fund provided to it under paragraph 2 shall be directly managed by the commission and invested in accordance with the principle of sound financial management and follow appropriate prudential rules . 5 . endowments to the guarantee fund referred to in paragraph 2 shall be used to reach an appropriate level to reflect the total eu guarantee obligations . the target amount shall be set at 50% of the union ' s total guarantee obligations . the target amount shall initially be met by 2022 at the latest through the gradual payment of resources referred to in point of paragraph 2 as well as endowments to the guarantee fund provided for in points , and of paragraph 2 . 5a . the necessary appropriations to meet the initial target amount shall be gradually authorised by the european parliament and the council in the framework of the annual budgetary procedure , taking due account of all means available under the council regulation no 1311 / 2013 of 2 december 2013 laying down the multiannual financial framework 2014 - 2020 , with particular recourse to the global margin for commitments and the flexibility instrument . the financing of the guarantee fund , both in respect of commitment and payment appropriations , shall be reviewed by the european parliament and the council in the context of the post - electoral review / revision of the multiannual financial framework 2014 - 2020 , to be launched by the end of 2016 at the latest , as foreseen in article 2 of council regulation no 1311 / 2013 . in the event that redeployments from eu programmes were agreed in the framework of the annual budgetary procedure as source of financing for the eu guarantee in the years preceding the mff review / revision , the european parliament and the council shall restore their initial budgets . 6 . by 31 december 2018 , and every year thereafter , the commission shall review the adequacy of the level of the guarantee fund taking into account any reduction of resources resulting from the activation of the guarantee and the eib ' s assessment submitted in accordance with article 10 . the commission shall be empowered to adopt delegated acts in accordance with article 17 adjusting downwards the target level provided for in paragraph 5 by a maximum of 10% to better reflect the potential risk of the eu guarantee being called . 7 . following an adjustment in year n of the target level or an assessment on the adequacy of the resources available in the guarantee fund in accordance with the review provided for in paragraph 6 : any surplus in the guarantee fund shall constitute internal assigned revenue in accordance with article 21 of regulation no 966 / 2012 for any lines which may have been used as a source of redeployment to the efsi guarantee fund , any replenishment of the guarantee fund shall be paid in annual tranches during a maximum period of three years starting on year n + 1 . 8 . if as a result of calls on the guarantee , the resources of the guarantee fund fall below 50% of the liabilities that have been incurred at the given moment the commission shall submit a report on exceptional measures that may be required to replenish it . 9 . subsequent to a call on the eu guarantee , endowments to the guarantee fund provided for in points , and of paragraph 2 shall be used to restore the eu guarantee up to its target amount . any remaining remuneration shall constitute internal assigned revenue in accordance with article 21 of regulation no 966 / 2012 for any lines which may have been used as a source of redeployment to the efsi guarantee fund . 9a . in the event that additional surplus remains , after requirements under paragraphs 7 and 9 have been fully met , the commission shall present a proposal on an increase of the overall level of the eu guarantee , leading to a reinforcement of the investment plan .


### the economic and financial crisis has led to a lowering of the level of investments within the union . investment has fallen by approximately 15% since its peak in 2007 . the union suffers in particular from a lack of investment as a consequence of market uncertainty regarding the economic future and the fiscal constraints on member states . this lack of investment slows economic recovery and negatively affects job creation , long - term growth prospects and competitiveness . ### the economic and financial crisis has led to a lowering of the level of investments within the union . investment has fallen by approximately 15% since its peak in 2007 . the union suffers in particular from a lack of investment as a consequence of market uncertainty regarding the economic future and the fiscal constraints on member states . this lack of investment slows economic recovery and negatively affects structural&#160 ; job creation , long - term growth prospects and competitiveness .


### the investment environment within the union should be improved by removing barriers to investment , reinforcing the single market and by enhancing regulatory predictability . the work of the efsi , and investments across europe generally , should benefit from this accompanying work . ### the investment environment within the eu should be improved by removing barriers to investment , such as obstacles to ppps that remain at national and eu level , by reinforcing the single market and by enhancing regulatory predictability . with the view to mobilising private companies and supporting the development of ppps , it should be ensured that there is no discrimination depending on the management of the projects , be it private or public . the work of the efsi , and investment across europe generally , should benefit from this accompanying work .


### the financial statements of the efsi . ### the financial statements of the efsi accompanied by an opinion of an independent external auditor .


### the eib , in cooperation with the eif as appropriate , shall report semi - annually to the commission on eib financing and investment operations under this regulation . the report shall include an assessment of compliance with the requirements on the use of the eu guarantee and the key performance indicators established pursuant to article 2 . the report shall also include statistical , financial and accounting data on each eib financing and investment operation and on an aggregated basis . ### the eib , in cooperation with the eif as appropriate , shall report semi - annually to the european parliament , the council and the commission on eib financing and investment operations under this regulation . &#160 ; one of the two&#160 ; reports shall be completed in due time , so that the commission&#160 ; can incorporate the relevant information in the annual accounts , and shall&#160 ; include an assessment of compliance with the requirements on the use of the eu guarantee and the key performance indicators established pursuant to article 2 . the report shall also include statistical , financial and accounting data on each eib financing and investment operation and on an aggregated basis .


### the commission shall , by 30 june of each year , send to the european parliament , the council and the court of auditors an annual report on the situation of the guarantee fund and the management thereof in the previous calendar year . ### the commission shall , by 30 june of each year , send to the european parliament , the council and the court of auditors an annual report detailing the situation of the guarantee fund and the management thereof in the previous calendar year , and the compliance with articles 5 , 7 and 8 of this regulation .


### the eib , in cooperation with the eif as appropriate , shall report annually to the european parliament and to the council on eib financing and investment operations . the report shall be made public and include : ### the eib , in cooperation with the eif as appropriate , shall report annually to the european parliament , to the council and to the court of auditors on eib financing and investment operations under this regulation . the annual report shall be made public and include :


### in accordance with its own transparency policies on access to documents and information , the eib shall make publicly available on its website information relating to all eib financing and investment operations and how they contribute to the general objectives referred to in article 5 . ### the eib shall make publicly available on its website detailed information relating to all eib financing and investment operations and the projects it finances directly or indirectly , and how they contribute to the general objectives referred to in article 5 .


### the eu guarantee shall be granted for eib financing and investment operations approved by the investment committee referred to in article 3 or funding to the eif in order to conduct eib financing and investment operations in accordance with article 7 . the operations concerned shall be consistent with union policies and support any of the following general objectives : ### the eu guarantee shall only be granted for eib financing and investment operations approved by the investment committee or funding to the eif in order to conduct eib financing and investment operations in accordance with article 7 and approved by the investment committee . the operations referred to in the first subparagraph shall be consistent with union policies , economically and technically viable , and shall provide additionality , maximise where possible the mobilisation of private sector capital , be complementary to existing union funds or aid schemes , provide european added value , contribute to achieving the europe 2020 targets and support any of the following general objectives :


### the steering board shall take decisions by consensus . ### the steering board shall take its decisions by consensus . those decisions shal be publicly accessible .


### the efsi agreement shall provide for the creation of a european investment advisory hub within the eib . the eiah shall have as its objective to build upon existing eib and commission advisory services in order to provide advisory support for investment project identification , preparation and development and act as a single technical advisory hub for project financing within the union . this shall include support on the use of technical assistance for project structuring , use of innovative financial instruments , use of public - private partnerships and advice , as appropriate , on relevant issues of eu legislation . ### the efsi agreement shall provide for the creation of a european investment advisory hub within the eib . the eiah shall have as its objective to build upon and complement existing eib and commission advisory services where possible in a decentralised manner in order to provide advisory support to member states and their authorities , private investors and investment platforms at all levels for investment project identification , preparation and development and act as a single technical advisory hub for project financing within the union . this shall include support on the use of technical assistance for project structuring , use of innovative financial instruments , use of public - private partnerships and advice , as appropriate on relevant issues of eu legislation .


### in accordance with the treaty on the functioning of the european union , infrastructure and project investments supported under efsi should be consistent with state aid rules . to that end , the commission has announced that it will formulate a set of core principles , for the purpose of state aid assessments , which a project will have to meet to be eligible for support under the efsi . if a project meets these criteria and receives support from the efsi , the commission has announced that any national complementary support , will be assessed under a simplified and accelerated state aid assessment whereby the only additional issue to be verified by the commission will be the proportionality of public support . the commission has also announced that it will provide further guidance on the set of core principles with a view to ensuring an efficient use of public funds . ### in accordance with the treaty on the functioning of the european union , infrastructure and project investments supported under efsi should comply with state aid rules . to that end , the commission has announced that it will formulate a set of core principles , for the purpose of state aid assessments , which a project will have to meet to be eligible for support under the efsi . if a project meets these criteria and receives support from the efsi , the commission has announced that any national complementary support , will be assessed under a simplified and accelerated state aid assessment whereby the only additional issue to be verified by the commission will be the proportionality of public support . the commission has also announced that it will provide further guidance on the set of core principles with a view to ensuring an efficient use of public funds .


### where the eib calls the eu guarantee in accordance with the efsi agreement , the union shall pay on demand in accordance with the terms of that agreement . ### where the eib calls the eu guarantee in accordance with the efsi agreement , the union shall pay on demand in accordance with the terms of that agreement . such a payment is limited to the amount of the funds not yet called by the eib from the eu guarantee . all further losses and risks are borne by the other contributors to the portfolio and the stakeholders of the projects . the union assumes no contingent liabilities exceeding the eu guarantee .


### on 15 july 2014 , the then president - elect of the european commission presented a set of political guidelines for the european commission to the european parliament . these political guidelines called for the mobilisation of ‘ up to eur 300 billion in additional public and private investment in the real economy over the next three years’ to stimulate investment for the purpose of job creation . ### on 15 july 2014 , the then president - elect of the european commission presented a set of political guidelines for the european commission to the european parliament . these political guidelines called for an energy union , a connected digital single market , and the mobilisation of ‘ up to eur 300 000 000 000 in additional public and private investment in the real economy over the next three years’ to stimulate investment for the purpose of job creation .


### at the request of the european parliament , the managing director shall participate in a hearing of the european parliament on the performance of the efsi . ### on a quarterly basis or upon specific request , the managing director shall participate in a hearing of the european parliament on the performance of the efsi .


### throughout the economic and financial crisis , the union has made efforts to promote growth , in particular through initiatives set out in the europe 2020 strategy that put in place an approach for smart , sustainable and inclusive growth . the european investment bank has also strengthened its role in instigating and promoting investment within the union , partly by way of an increase in capital in january 2013 . further action is required to ensure that the investment needs of the union are addressed and that the liquidity available on the market is used efficiently and channelled towards the funding of viable investment projects . ### throughout the economic and financial crisis , the union has made efforts to promote growth , in particular through initiatives set out in the europe 2020 strategy , that put in place an approach for smart , sustainable and inclusive growth , and through the european semester for economic policy coordination . the european investment bank has also strengthened its role in instigating and promoting investment within the union , partly by way of an increase in capital in january 2013 . further action is required to ensure that the investment needs of the union are addressed and that the liquidity available on the market is used efficiently and channelled towards the funding of viable investment projects .


### in order to allow for further increase in its resources , participation in the efsi should be open to third parties , including member states , national promotional banks or public agencies owned or controlled by member states , private sector entities and entities outside the union subject to the consent of existing contributors . third parties may contribute directly to the efsi and take part in the efsi governance structure . ### in order to allow for further increase in its resources , participation in the efsi should be open to third parties , including member states , regional governments with fiscal and legislative powers , national and regional promotional banks or public agencies owned or controlled by member states , private sector entities and entities outside the union subject to the consent of existing contributors . third parties may contribute directly to the efsi and take part in the efsi governance structure .


### the efsi agreement shall provide that the efsi shall be governed by a steering board , which shall determine the strategic orientation , the strategic asset allocation and operating policies and procedures , including the investment policy of projects that efsi can support and the risk profile of the efsi , in conformity with the objectives under article 5 . the steering board shall elect one of its members to be chairperson . ### the efsi agreement shall provide that the commission and the eib are directly responsible and accountable to parliament and the council for the management of all funds and guarantees handled by the efsi . for this purpose the&#160 ; efsi&#160 ; is to&#160 ; be governed by a steering board , which , for the use of the eu guarantee , &#160 ; is to&#160 ; determine the strategic orientation , the strategic asset allocation and operating policies and procedures , including the investment policy of projects that efsi can support and the risk profile of the efsi , in conformity with the objectives under article 5 . the steering board shall elect one of its members as its chairperson .


### the identification of legislation gaps that hamper interoperability between european public administrations ; ### the identification of legislation gaps that hamper cross - border and cross - sector interoperability between european public administrations ;


### at political level , the council has repeatedly called for even greater interoperability in europe and for continued efforts to modernise european public administrations . in particular , on 24 and 25 october 2013 , the european council adopted conclusions stressing that the modernisation of public administrations should continue through the swift implementation of services such as e - government , e - health , e - invoicing and e - procurement , which rely on interoperability . ### at political level , the council has repeatedly called for even greater interoperability in europe and for continued efforts to modernise european public administrations . in particular , on 24 and 25 october 2013 , the european council adopted conclusions stressing that the modernisation of public administrations should continue through the swift implementation of services such as e - government , e - health , e - invoicing and e - procurement , which rely on interoperability . the commitment of member states is essential to ensure the rapid deployment of an interoperable e - society in europe and the involvement of public administrations in encouraging the use of online procedures .


### the evaluations shall also examine the benefits of the actions to the union for the advancement of common policies , identify areas for potential improvement and verify synergies with other union initiatives in the area of cross - border or cross - sector interoperability and the modernisation of european public administrations . ### the evaluations shall also examine the benefits of the actions to the union for the advancement of common policies , identify areas for potential improvement and verify synergies with other union initiatives in the area of cross - border or cross - sector interoperability and the modernisation , simplification and efficiency of european public administrations .


### in order to avoid duplication and to speed up the establishing of interoperability solutions , results achieved by other relevant union and member state initiatives shall be taken into account where appropriate . ### in order to avoid duplication and to speed up the establishing of interoperability solutions , results achieved by other relevant union and member state initiatives shall be taken into account .


### member states should implement additional economic support measures in addition to the existing ones , targeting the various legs of a combined transport operation , in order to reduce the road freight and to encourage the use of other modes of transport such as rail , inland waterways and maritime transport , thereby reducing air pollution , greenhouse gas emissions , road traffic accidents , noise and congestion . such measures may include the reduction of certain taxes or transport fees , grants for intermodal load units effectively transported in combined transport operations , or the partial reimbursement of transhipments cost . ### member states should implement additional economic support measures in addition to the existing ones , targeting the various legs of a combined transport operation , in order to reduce the road freight and to encourage the use of other modes of transport such as rail , inland waterways and maritime transport , thereby reducing air pollution , greenhouse gas emissions , road traffic accidents , noise and congestion . such measures should aim to incentivise zero - and low - emission modes of transport and may include the reduction of certain taxes or transport fees , grants for intermodal load units effectively transported in combined transport operations , or the partial reimbursement of transhipments cost .


### the goal of reaching 30% of road freight over 300 km shifted to other modes of transport such as rail or waterborne transport by 2030 , and more than 50% by 2050 , in order to optimise the performance of multimodal logistic chains , including by making greater use of more energy - efficient modes , has been slower than expected and according to the current projections , will not be reached . ### the goal of reaching 30% of road freight over 300 km shifted to other modes of transport such as rail or waterborne transport by 2030 , and more than 50% by 2050 , in order to optimise the performance of multimodal logistic chains , including by making greater use of more energy - efficient modes , has been slower than expected and according to the current projections , will not be reached . therefore , incentives to shift to zero - and low - emission road freight modes will be needed .


### member states should comply with the emission reduction commitments set out in this directive for 2020 and 2030 . so as to ensure demonstrable progress towards the 2030 commitments , member states should meet intermediate emission levels in 2025 , set on the basis of a linear trajectory between their emission levels for 2020 and those defined by the emission reduction commitments for 2030 , unless this would entail disproportionate costs . where the 2025 emissions cannot be so limited , member states should explain the reasons in their reports under this directive . ### so as to ensure demonstrable progress towards the 2030 commitments , member states should comply with the emission reduction commitments set out in this directive for 2020 , 2025 and 2030 on the basis of a linear trajectory between their emission levels for 2020 and those defined by the emission reduction commitments for 2030 .


### the reports referred to in paragraph 1 may include an evaluation of the environmental and socioeconomic impacts of this directive . ### the reports referred to in paragraph 1 shall include an evaluation of the environmental and socioeconomic impacts of this directive .


### without prejudice to paragraph 1 , member states shall take all the necessary measures not entailing disproportionate costs to limit their 2025 anthropogenic emissions of so2 , nox , nmvoc , nh3 , pm2 , 5 and ch4 . the levels of those emissions shall be determined on the basis of fuels sold , by a linear reduction trajectory established between their emission levels for 2020 and the emission levels defined by the emission reduction commitments for 2030 . ### without prejudice to paragraph 1 , member states shall take all the necessary measures not entailing disproportionate costs to limit their 2025 anthropogenic emissions of so2 , nox , nmvoc , nh3 and pm2 , 5 . the levels of those emissions shall be determined on the basis of fuels sold , by a linear reduction trajectory established between their emission levels for 2020 and the emission levels defined by the emission reduction commitments for 2030 .


### the reports referred to in paragraph 1 may include an evaluation of the environmental and socioeconomic impacts of this directive . ### the reports referred to in paragraph 1 shall include an evaluation of the health , environmental , and socioeconomic impacts of this directive .


### the commission shall in any case report as above for the year 2025 , and shall also include information on the achievement of the intermediate emission levels referred to in article 4 paragraph 2 and the reasons for any non - achievement . it shall identify the need for further action also considering the sectorial impacts of implementation . ### when reporting on member states’ emission reductions for the year 2020 and 2025 , the commission shall include explanations for any non - achievement . it shall with member states identify the need for further action to be taken at national level . it shall also assess the need of further legislation proposals , so to ensure compliance with the targets of this directive .


### member states shall , as a minimum , limit their annual anthropogenic emissions of sulphur dioxide , nitrogen oxides , volatile organic compounds other than methane , ammonia , particulate matter and methane in accordance with the national emission reduction commitments applicable from 2020 and 2030 , as laid down in annex ii . ### member states shall , as a minimum , limit their annual anthropogenic emissions of sulphur dioxide , nitrogen oxides , volatile organic compounds other than methane , ammonia , particulate matter , methane and mercury in accordance with the national emission reduction commitments applicable from 2020 , 2025 and 2030 , as laid down in annex ii .


### member states should comply with the emission reduction commitments set out in this directive for 2020 and 2030 . so as to ensure demonstrable progress towards the 2030 commitments , member states should meet intermediate emission levels in 2025 , set on the basis of a linear trajectory between their emission levels for 2020 and those defined by the emission reduction commitments for 2030 , unless this would entail disproportionate costs . where the 2025 emissions cannot be so limited , member states should explain the reasons in their reports under this directive . ### member states should comply with the emission reduction commitments set out in this directive for 2020 , 2025 and 2030 .


### the policy options considered to meet the emission reduction commitments for 2020 and 2030 onwards and the intermediate emission levels determined for 2025 and to contribute to further improve the air quality , and their analysis , including the method of analysis ; the individual or combined impacts of the polices and measures on emission reductions , air quality and the environment ; and the associated uncertainties ; ### the policy options considered to meet the emission reduction commitments for 2020 , 2025 and 2030 onwards and to contribute to further improve the air quality , and their analysis , including the method of analysis ; the individual or combined impacts of the polices and measures on emission reductions , air quality and the environment ; and the associated uncertainties ;


### member states should adopt and implement a national air pollution control programme with a view to meeting their emission reduction requirements and intermediate emission levels , and to contributing effectively to the achievement of the union air quality objectives . to this effect , member states should take account of the need to reduce emissions in zones and agglomerations affected by excessive air pollutant concentrations and / or in those that contribute significantly to air pollution in other zones and agglomerations , including in neighbouring countries . national air pollution control programmes should , to that end , contribute to the successful implementation of air quality plans enacted under article 23 of directive 2008 / 50 / ec of the european parliament and of the council . 23 __________________ 23 directive 2008 / 50 / ec of the european parliament and of the council of 21 may 2008 on ambient air quality and cleaner air in europe . ### member states should adopt and implement a national air pollution control programme with a view to meeting their emission reduction requirements and to contributing effectively to the achievement of the union air quality objectives . to this effect , member states should take account of the need to reduce emissions in zones and agglomerations affected by excessive air pollutant concentrations and / or in those that contribute significantly to air pollution in other zones and agglomerations , including in neighbouring countries . national air pollution control programmes should , to that end , contribute to the successful implementation of air quality plans enacted under article 23 of directive 2008 / 50 / ec of the european parliament and of the council . 23 __________________ 23 directive 2008 / 50 / ec of the european parliament and of the council of 21 may 2008 on ambient air quality and cleaner air in europe .


### member states should prepare and annually update national emission inventories for the pollutants set out in table b of annex i , in accordance with the requirements set out therein . ### member states shall prepare and annually update national emission inventories for the pollutants set out in table b of annex i , in accordance with the requirements set out therein .


### where a national air pollution control programme is updated under article 6 , the member state concerned shall inform the commission thereof within two months . ### where a national air pollution control programme is updated under article 6 , the member state concerned shall communicate the updated programme to the commission within two months .


### members states that intend to apply paragraphs 1 , 2 and 3 shall inform the commission by 30 september of the year preceding the reporting year concerned . that information shall include the pollutants and sectors concerned and , where available , the magnitude of the impacts upon national emission inventories . ### members states that intend to apply paragraph 1 shall inform the commission by 30 september of the year preceding the reporting year concerned . that information shall include the sectors concerned and , where available , the magnitude of the impacts upon national emission inventories .


### the commission shall , every five years at least , report to the european parliament and the council on the progress on implementing this directive , including an assessment of its contribution to the achievement of the objectives of this directive . ### the commission shall , every 30 months from the implementation of this directive , report to the european parliament and the council on the progress on implementing this directive . in doing so it shall provide an assessment of : its contribution and members&#160 ; states ' efforts&#160 ; to achieving the objectives of this directive the progress of air pollutants’ emissions up to 2025 and 2030 . the progress of achieving the long terms objectives of air quality aims established in the 7th environment action programme . the exceeding of critical loads and levels as well as world health organisation air pollution guide values . member states uptake of eu funding available , which has been used to target air pollution reduction .


### take account of the need to reduce air pollutant emissions for the purpose of reaching compliance with air quality objectives in their territories and , where appropriate in neighbouring member states ; ### reduce air pollutant emissions for the purpose of reaching compliance with air quality objectives in their territories , in particular the limit values under directive 2008 / 50 / ec , and , where appropriate in neighbouring member states ;


### in order to promote cost - effective achievement of the national emission reduction commitments and of the intermediate emission levels , member states should be entitled to account for emission reductions from international maritime traffic if emissions from that sector are lower than the levels of emissions that would result from compliance with union law standards , including the sulphur limits for fuels set in directive 1999 / 32 / ec of the council . 21 member states should also have the possibility to jointly meet their commitments and intermediate emission levels regarding methane and of making use of decision n°406 / 2009 / ec of the european parliament and of the council for so doing . 22 for the purpose of checking compliance with their national emission ceilings , emission reduction commitments and intermediate emission levels , member states could adjust their national emission inventories in view of improved scientific understanding and methodologies regarding emissions . the commission could object to the use of any of these flexibilities by a member state , should the conditions set out in this directive not be met . __________________ 21 council directive 1999 / 32 / ec of 26 april 1999 relating to a reduction in the sulphur content of certain liquid fuels and amending directive 93 / 12 / eec . 22 decision n°406 / 2009 / ec of the european parliament and of the council of 23 april 2009 on the effort of member states to reduce their greenhouse gas emissions to meet the community’s greenhouse gas emission reduction commitments up to 2020 . ### in order to promote cost - effective achievement of the national emission reduction commitments , member states should have the possibility to jointly meet their commitments regarding methane and of making use of decision n°406 / 2009 / ec of the european parliament and of the council for so doing . 22 for the purpose of checking compliance with their national emission ceilings , emission reduction commitments and emission levels , member states could adjust their national emission inventories in view of improved scientific understanding and methodologies regarding emissions . the commission could object to the use of such flexibility by a member state , should the conditions set out in this directive not be met . __________________ 22 decision n°406 / 2009 / ec of the european parliament and of the council of 23 april 2009 on the effort of member states to reduce their greenhouse gas emissions to meet the community’s greenhouse gas emission reduction commitments up to 2020 .


### in order to take into account technical developments , the power to adopt acts in accordance with article 290 of the treaty on the functioning of the european union should be delegated to the commission in respect of amending the reporting guidelines set out in annex i , as well as part 1 of annex iii and annexes iv and v to adapt them to technical progress . it is of particular importance that the commission carry out appropriate consultations during its preparatory work , including at expert level . the commission , when preparing and drawing up delegated acts , should ensure a simultaneous , timely and appropriate transmission of relevant documents to the european parliament and to the council . ### in order to take into account technical developments , the power to adopt acts in accordance with article 290 of the treaty on the functioning of the european union should be delegated to the commission in respect of amending the reporting guidelines set out in annex i , as well as part 1 of annex iii and annexes iv and v to adapt them to technical progress . it is of particular importance that the commission carry out appropriate consultations during its preparatory work , in particular with experts and representatives of different sectors and social collectives . the commission , when preparing and drawing up delegated acts , should ensure a simultaneous , timely and appropriate transmission of relevant documents to the european parliament and to the council .


### member states may jointly implement their methane emission reduction commitments and intermediate emission levels referred to in annex ii , provided that they meet the following conditions : ### member states may jointly implement their methane emission reduction commitments referred to in annex ii , provided that they meet the following conditions :


### the policy options considered to meet the emission reduction commitments for 2020 and 2030 onwards and the intermediate emission levels determined for 2025 and to contribute to further improve the air quality , and their analysis , including the method of analysis ; the individual or combined impacts of the polices and measures on emission reductions , air quality and the environment ; and the associated uncertainties ; ### the policy options considered to meet the emission reduction commitments for 2020 , 2025 and 2030 to contribute to further improve the air quality , and their analysis , including the method of analysis ; the individual or combined impacts of the polices and measures on emission reductions , air quality and the environment ; and the associated uncertainties ;


### the commission may adopt implementing acts specifying the detailed rules for the use of the flexibilities as referred to in paragraphs 1 , 2 and 3 , in accordance with the examination procedure referred to in article 14 . ### the commission shall provide guidance to member states on the implementation of this flexibility . it may additionally adopt implementing acts specifying the detailed rules for the use of the flexibility in accordance with the examination procedure referred to in article 14 .


### member states decide to make use of any of the flexibilities set out in article 5 . ### member states decide to make use of the flexibility set out in article 5 .


### any significant changes in the policy context , assessments , the programme or the implementation time table . ### reporting on any relevant changes in the policy context , assessments , programme or implementation timetable , including a description of any adjustment measures required as a consequence , so to ensure compliance with the legally binding national emission targets in this directive .


### in order to reduce atmospheric nh3 and pm2 , 5 emissions from the main contributors , national air pollution control programmes should include measures applicable to the agricultural sector . member states should be entitled to implement measures other than those set out in this directive with an equivalent level of environmental performance owning to specific national circumstances . ### in order to reduce atmospheric nh3 and pm2 , 5 emissions from the main contributors , national air pollution control programmes should include measures applicable to the agricultural sector . these measures should be based on specific information and data , taking account of scientific progress and previous measures undertaken by member states , and should be cost - effective . member states should be entitled to implement measures other than those set out in this directive with an equivalent level of environmental performance owning to specific national circumstances .


### the seventh environment action programme18 confirms the union ' s long - term objective for air policy , to achieve levels of air quality that do not give rise to significant negative impacts on and risks to human health and the environment , and calls , to that end , for full compliance with the current air quality legislation of the union , post - 2020 strategic targets and actions , enhanced efforts in areas where the population and ecosystems are exposed to high levels of air pollutants , and reinforced synergies between air quality legislation and union ' s policy objectives set for climate change and biodiversity in particular . ––––––––––––––––––––––– 18 proposal for a decision of the european parliament and of the council on a general union environment action programme to 2020 ' living well , within the limits of our planet ' , com 710 , 29 . 11 . 2012 . ### the seventh environment action programme18 confirms the union ' s long - term objective for air policy , to achieve levels of air quality that do not give rise to significant negative impacts on and risks to human health and the environment , and calls , to that end , for full compliance with the current air quality legislation of the union , post - 2020 strategic targets and actions , enhanced efforts in areas where the population and ecosystems are exposed to high levels of air pollutants , and reinforced synergies between air quality legislation and union ' s policy objectives set for climate change and biodiversity in particular . the new common agricultural policy for the 2014 - 2020 period offers the possibility for member states to contribute to air quality with specific measures . future evaluation will provide a better understanding of the effects of these measures . ––––––––––––––––––––––– 18 decision no 1386 / 2013 / eu of the european parliament and of the council of 20 november 2013 on a general union environment action programme to 2020 ‘ living well , within the limits of our planet’ .


### the commission , assisted by the european environment agency and the member states shall regularly review the national emission inventory data . this review shall involve the following : ### the commission , assisted by the european environment agency and the member states shall regularly review the national emission inventory data and national air pollution control programmes . this review shall involve the following :


### in order to reduce atmospheric nh3 and pm2 , 5 emissions from the main contributors , national air pollution control programmes should include measures applicable to the agricultural sector . member states should be entitled to implement measures other than those set out in this directive with an equivalent level of environmental performance owning to specific national circumstances . ### in order to reduce atmospheric nh3 and pm2 , 5 emissions from the main contributors , national air pollution control programmes should include cost - effective measures applicable to the agricultural sector . investments for emissions reduction in agriculture have long - term implications that differ in respect to farm sizes . this needs to be taken into account accordingly , in order to successfully foster the uptake of mitigation measures . member states should be entitled to implement measures other than those set out in this directive with an equivalent level of environmental performance owning to specific national circumstances . improvements in air quality can be achieved only through proportionate measures without jeopardizing the future of agricultural holdings . the efforts of the agricultural sector in developing animal husbandry procedures must not be undermined by the commitments to reduce emissions of air pollutants . the national air pollution control programs should provide a balance between politically and socially desirable animal husbandry and pollution control .


### members states that intend to apply paragraphs 1 , 2 and 3 shall inform the commission by 30 september of the year preceeding the reporting year concerned . that information shall include the pollutants and sectors concerned and , where available , the magnitude of the impacts upon national emission inventories . ### member states that intend to apply paragraphs 1 and 3 shall inform the commission by 30 september of the year preceding the reporting year concerned . that information shall include the pollutants and sectors concerned and , where available , the magnitude of the impacts upon national emission inventories .


### manifestly , seriously and gravely infringes articles 6 or 12 , or both ; ### manifestly , seriously and gravely infringes articles 6 , 7 or 12 ;


### product placement shall be admissible in all audiovisual media services , except in news and current affairs programmes , consumer affairs programmes , religious programmes and programmes with a significant children ' s audience . ### product placement shall be admissible in all audiovisual media services , except in news and current affairs programmes , consumer affairs programmes , religious programmes and children´s programmes .


### member states shall ensure that providers of on - demand audiovisual media services under their jurisdiction secure at least a 20% share of european works in their catalogue and ensure prominence of these works . ### member states shall ensure that on - demand audiovisual media services provided by media service providers under their jurisdiction promote , where practicable and by appropriate means , the production of and access to european works . such promotion could relate , inter alia , to the financial contribution made by such services to the production and rights acquisition of european works or to the share and / or prominence of european works in the catalogue of programmes offered by the on - demand audiovisual media service .


### member states and the commission shall encourage the development of self - and co - regulatory codes of conduct regarding inappropriate audiovisual commercial communications for alcoholic beverages . those codes should be used to effectively limit the exposure of minors to audiovisual commercial communications for alcoholic beverages . ### member states and the commission shall encourage the development of self - and co - regulatory codes of conduct regarding inappropriate audiovisual commercial communications for alcoholic beverages . those codes , based on best practices in member states , should be used to effectively limit the exposure of minors to audiovisual commercial communications for alcoholic beverages .


### member states shall remain free to require media service providers under their jurisdiction to comply with more detailed or stricter rules with regard to articles 5 , 6 , 6a , 9 , 10 , 11 , 12 , 13 , 16 , 17 , 19 to 26 , 30 and 30a , provided that such rules are in compliance with union law . ; ### member states shall remain free to require media service providers under their jurisdiction to comply with more detailed or stricter rules with regard to articles 5 , 6 , 6a , 7 , 9 , 10 , 11 , 12 , 13 , 16 , 17 , 19 to 26 , 30 and 30a , provided that such rules are in compliance with union law .


### member states shall ensure that complaint and redress mechanisms are available for the settlement of disputes between users and video - sharing platform providers relating to the application of the appropriate measures referred to in paragraphs 1 and 2 . ### member states shall ensure that effective complaint and redress mechanisms are available for the settlement of disputes , including counter - notice procedure , between users and video - sharing platform providers relating to the application of the appropriate measures referred to in paragraphs 1 and 2 .


### video - sharing platform providers or , where applicable , the organisations representing those providers in this respect shall submit to the commission draft union codes of conduct and amendments to existing union codes of conduct . the commission may request erga to give an opinion on the drafts , amendments or extensions of those codes of conduct . the commission may give appropriate publicity to those codes of conduct . ### video - sharing platform providers or , where applicable , the organisations representing those providers in this respect shall submit to the commission draft union codes of conduct and amendments to existing union codes of conduct . the commission may request erga to give an opinion on the drafts , amendments or extensions of those codes of conduct . the commission shall give appropriate publicity to those codes of conduct .


### an important share of the content stored on video - sharing platforms is not under the editorial responsibility of the video - sharing platform provider . however , those providers typically determine the organisation of the content , namely programmes or user - generated videos , including by automatic means or algorithms . therefore , those providers should be required to take appropriate measures to protect minors from content that may impair their physical , mental or moral development and protect all citizens from incitement to violence or hatred directed against a group of persons or a member of such a group defined by reference to sex , race , colour , religion , descent or national or ethnic origin . ### an important share of the content stored on video - sharing platforms is not under the editorial responsibility of the video - sharing platform provider . however , where those providers determine the organisation of the content , namely programmes or user - generated videos , including by automatic means or algorithms , they should be encouraged to take appropriate measures to protect minors from content that may impair their physical , mental or moral development and protect all citizens from incitement to violence or hatred directed against a group of persons or a member of such a group defined by reference to sex , race , colour , religion , descent or national or ethnic origin in accordance with guidelines regularly issued by authorities to ensure the protection of user ' s fundamental rights .


### those measures shall consist of , as appropriate : ### those measures may consist of , as appropriate :


### an important share of the content stored on video - sharing platforms is not under the editorial responsibility of the video - sharing platform provider . however , those providers typically determine the organisation of the content , namely programmes or user - generated videos , including by automatic means or algorithms . therefore , those providers should be required to take appropriate measures to protect minors from content that may impair their physical , mental or moral development and protect all citizens from incitement to violence or hatred directed against a group of persons or a member of such a group defined by reference to sex , race , colour , religion , descent or national or ethnic origin . ### an important share of the content stored on video - sharing platforms is not under the editorial responsibility of the video - sharing platform provider . therefore , those providers should be required to take appropriate measures to protect minors from content that may impair their physical , mental or moral development .


### video - sharing platform providers or , where applicable , the organisations representing those providers in this respect shall submit to the commission draft union codes of conduct and amendments to existing union codes of conduct . the commission may request erga to give an opinion on the drafts , amendments or extensions of those codes of conduct . the commission may give appropriate publicity to those codes of conduct . ### video - sharing platform providers or , where applicable , the organisations representing those providers in this respect shall submit to the commission draft union codes of conduct and amendments to existing union codes of conduct , in accordance with the guidelines provided in paragraph 4 . the commission may request erga to give an opinion on the drafts , amendments or extensions of those codes of conduct . the commission shall give appropriate publicity to those codes of conduct .


### establishing jurisdiction requires an assessment of factual situations against the criteria laid down in directive 2010 / 13 / eu . the assessment of such factual situations might lead to conflicting results . in the application of the cooperation procedures provided for in articles 3 and 4 of directive 2010 / 13 / eu , it is important that the commission can base its findings on reliable facts . the european regulators group for audiovisual media services should therefore be empowered to provide opinions on jurisdiction upon the commission ' s request . ### establishing jurisdiction requires an assessment of factual situations against the criteria laid down in directive 2010 / 13 / eu . the assessment of such factual situations might lead to conflicting results . in the application of the cooperation procedures provided for in articles 3 and 4 of directive 2010 / 13 / eu , it is important that the commission can base its findings on reliable facts . the european regulators group for audiovisual media services should therefore be empowered to provide opinions , in conjunction with national regulatory authorities , on jurisdiction upon the commission ' s request .


### video - sharing platform providers or , where applicable , the organisations representing those providers in this respect shall submit to the commission draft union codes of conduct and amendments to existing union codes of conduct . the commission may request erga to give an opinion on the drafts , amendments or extensions of those codes of conduct . the commission may give appropriate publicity to those codes of conduct . ### video - sharing platform providers or , where applicable , the organisations representing those providers in this respect shall submit to the commission draft voluntary union codes of conduct and amendments to existing voluntary union codes of conduct . the commission may request erga to give an opinion on the drafts , amendments or extensions of those codes of conduct . the commission may give appropriate publicity to those codes of conduct .


### member states may require providers of on - demand audiovisual media services under their jurisdiction to contribute financially to the production of european works , including via direct investment in content and contributions to national funds . member states may require providers of on - demand audiovisual media services , targeting audiences in their territories , but established in other member states to make such financial contributions . in this case , the financial contribution shall be based only on the revenues earned in the targeted member states . if the member state where the provider is established imposes a financial contribution , it shall take into account any financial contributions imposed by targeted member states . any financial contribution shall comply with union law , in particular with state aid rules . ### member states may require providers of on - demand audiovisual media services under their jurisdiction to contribute financially to the production of european works , including via direct investment in content and contributions to national funds . any financial contribution shall comply with union law , in particular with state aid rules .


### this directive is without prejudice to the ability of member states to impose obligations to ensure discoverability and accessibility of content of general interest under defined general interest objectives such as media pluralism , freedom of speech and cultural diversity . such obligations should only be imposed where they are necessary to meet general interest objectives clearly defined by member states in conformity with union law . in this respect , member states should in particular examine the need for regulatory intervention against the results of the outcome of market forces . where member states decide to impose discoverability rules , they should only impose proportionate obligations on undertakings , in the interest of legitimate public policy considerations . ### this directive is without prejudice to the ability of member states to take measures to ensure discoverability and accessibility of content of general interest under defined general interest objectives such as media pluralism , freedom of speech and cultural diversity . such obligations should only be imposed where they are proportionate and meet general interest objectives clearly defined by member states in conformity with union law . in this respect , member states should in particular examine the need for regulatory intervention against the results of the outcome of market forces . where member states decide to introduce discoverability rules , they should only take proportionate measures with regard to undertakings , in the interest of legitimate public policy considerations .


### the organisation of the stored content is determined by the provider of the service including by automatic means or algorithms , in particular by hosting , displaying , tagging and sequencing ; ### the organisation of the stored content is determined by the provider of the service ;


### in order to ensure adequate levels of investment on european works , member states should be able to impose financial obligations to on - demand service providers established on their territory . those obligations can take the form of direct contributions to the production of and acquisition of rights in european works . the member states could also impose levies payable to a fund , on the basis of the revenues made with on - demand services that are provided in and targeted towards their territory . this directive clarifies that , given the direct link between financial obligations and member states ' different cultural policies , member states are also allowed to impose such financial obligations on providers of on - demand services established in another member state which are targeted towards its territory . in this case financial obligations should only be charged on the revenues generated through the audience in that member state . ### in order to ensure adequate levels of investment on european works , member states should be able to impose financial obligations to on - demand service providers established on their territory . those obligations can take the form of direct contributions to the production of and acquisition of rights in european works . in this case financial obligations should only be charged on the revenues generated through the audience in that member state .


### there are new challenges , in particular in connection with video - sharing platforms , on which users - particularly minors - increasingly consume audiovisual content . in this context , harmful content and hate speech stored on video - sharing platforms have increasingly given rise to concern . it is necessary , in order to protect minors from harmful content and all citizens from content containing incitement to violence or hatred , to set out proportionate rules on those matters . ### there are new challenges , in particular in connection with video - sharing platforms , on which users - particularly minors - increasingly consume audiovisual content . in this context , harmful content and hate speech stored on video - sharing platforms have increasingly given rise to concern . in addition , the arbitrary removal of that content , being often dependent on subjective interpretation , can undermine the freedom of expression and information . it is necessary , in order to protect minors from harmful content and all citizens from content containing incitement to violence or hatred , but also to protect user ' s fundamental rights , to encourage video - sharing platforms to put in place voluntary measures on those matters , in accordance with regular guidelines issued by authorities , and without prejudice to article 14 and 15 of the ecommerce directive .


### defining and applying in the terms and conditions of the video - sharing platform providers the concepts of incitement to violence or hatred as referred to in point of paragraph 1 and of content which may impair the physical , mental or moral development of minors , in accordance with articles 6 and 12 respectively ; ### setting out the rights and duties of users , in the terms and conditions of the video - sharing platform providers , with regard to incitement to violence or hatred as referred to in point of paragraph 1 and of content which may impair the physical , mental or moral development of minors , in accordance with articles 6 and 12 respectively and the guidelines issued by the regulatory authorities of member states as referred to in paragraph 4 ;


### member states shall not impose on video - sharing platform providers measures that are stricter than the measures referred to in paragraph 1 and 2 . member states shall not be precluded from imposing stricter measures with respect to illegal content . when adopting such measures , they shall respect the conditions set by applicable union law , such as , where appropriate , those set in articles 14 and 15 of directive 2000 / 31 / ec or article 25 of directive 2011 / 93 / eu . ### member states shall not impose on video - sharing platform providers measures that are stricter than the measures referred to in paragraph 1 and 2 . when adopting such measures , they shall respect the conditions set by applicable union law , such as , where appropriate , those set in articles 14 and 15 of directive 2000 / 31 / ec or article 25 of directive 2011 / 93 / eu .


### if a media service provider has its head office in one member state but editorial decisions on the audiovisual media service are taken in another member state , it shall be deemed to be established in the member state where the majority of the workforce involved in the pursuit of the audiovisual media service activity operates ; ; ### if a media service provider has its head office in one member state but editorial decisions on the audiovisual media service are taken in another member state , it shall be deemed to be established in the member state where the majority of the editorial decisions in the pursuit of the audiovisual media service activity are taken ;


### before a consumer is bound by a distance contract , or any corresponding offer , on an online marketplace , the online marketplace shall in addition provide the following information : ### before a consumer is bound by a distance contract , or any corresponding offer , on an online marketplace , the online marketplace shall in addition provide the following information in a clear and user - friendly manner :


### where the member state fails to take effective action in response to a request made in accordance with paragraph 1 , within the deadlines set out in paragraphs 3 and 4 , the commission may suspend all or part of the payments for the programmes or priorities concerned in accordance with article 91 . ### where the member state fails to take effective action in response to a request made in accordance with paragraph 1 , within the deadlines set out in paragraphs 3 and 4 , the commission shall suspend all or part of the payments for the programmes or priorities concerned in accordance with article 91 .


### member states should determine how relevant country - specific recommendations adopted in accordance with article 121 of the tfeu and relevant council recommendations adopted in accordance with article 148 of the tfeu are taken into account in the preparation of programming documents . during the 2021–2027 programming period , member states should regularly present to the monitoring committee and to the commission the progress in implementing the programmes in support of the csrs . during a mid - term review , member states should , among other elements , consider the need for programme modifications to accommodate relevant csrs adopted or modified since the start of the programming period . ### member states should take into account country - specific recommendations adopted in accordance with article 121 of the tfeu and council recommendations adopted in accordance with article 148of the tfeu in the preparation of programming documents . during the2021–2027 programming period , member states should regularly present to the monitoring committee and to the commission the progress in implementing the programmes in support of the csrs . during a mid - term review , member states should , among other elements , consider the need for programme modifications to accommodate relevant csrs adopted or modified since the start of the programming period .


### mechanisms to ensure a link between union funding policies and the economic governance of the union should be further refined , allowing the commission to make a proposal to the council to suspend all or part of the commitments for one or more of the programmes of the member state concerned where that member state fails to take effective action in the context of the economic governance process . in order to ensure uniform implementation and in view of the importance of the financial effects of measures being imposed , implementing powers should be conferred on the council which should act on the basis of a commission proposal . to facilitate the adoption of decisions which are required to ensure effective action in the context of the economic governance process , reversed qualified majority voting should be used . ### mechanisms to ensure a link between union funding policies and the economic governance of the union should be further refined , allowing the commission to make a proposal to the council to suspend all or part of the commitments for one or more of the programmes of the member state concerned where that member state fails to take effective action in the context f the economic governance process . in the case of significant non - compliance payments should be suspended automatically . in order to ensure uniform implementation and in view of the importance of the financial effects of measures being imposed , implementing powers should be conferred on the council which should act on the basis of a commission proposal . to facilitate the adoption of decisions which are required to ensure effective action in the context of the economic governance process , reversed qualified majority voting should be used .


### adopt interim measures to prevent the risk of serious and irreparable harm to consumers , in particular the suspension of a website , domain or a similar digital site , service or account ; ### adopt interim measures to prevent the risk of serious and irreparable harm to consumers , in particular requesting hosting service providers to suspend a website , service or account , or requesting domain registries and registrars to put a fully qualified domain name on hold for a limited period of time , provided that any measure taken , to restrict the online distribution , or otherwise making available , of content to the public is in line with the charter of fundamental rights , is limited to what is necessary and proportionate and executed on the basis of a prior judicial authorisation ;


### union priorities and acquis in the area of security in particular information exchange and interoperability of it systems ; ### union priorities and acquis in the area of security , in particular coordination and cooperation between law enforcement authorities as well as information exchange , quality of data , efficiency , supply of data and interoperability of it systems ;


### to intensify cross - border joint operations among and within the union law enforcement and other competent authorities in relation to serious and organised crime with a cross - border dimension ; and ### to intensify coordination and cooperation , including cross - border joint operations among and within the member states’ law enforcement and other competent authorities in relation to terrorism and serious and organised crime with a cross - border dimension ; and


### the financial envelope for the implementation of the fund for the period 2021 - 2027 shall be eur 2 500 000 000 in current prices . ### the financial envelope for the implementation of the fund for the period 2021 - 2027 shall be eur 2 209 725 000 in 2018 prices .