### 400 million allowances shall be available to support innovation in low - carbon technologies and processes in industrial sectors listed in annex i , and to help stimulate the construction and operation of commercial demonstration projects that aim at the environmentally safe capture and geological storage of co2 as well as demonstration projects of innovative renewable energy technologies , in the territory of the union . ### up to 400 million allowances to be auctioned as set out in article 10 shall be available to support innovation in low - carbon technologies and processes in industrial sectors listed in annex i , and up to a maximum of 50 million allowances shall be available to help stimulate the construction and operation of commercial demonstration projects that aim at the environmentally safe ccs and ccu as well as demonstration projects of innovative renewable energy technologies , in the territory of the union .


### the allowances shall be made available for innovation in low - carbon industrial technologies and processes and support for demonstration projects for the development of a wide range of ccs and innovative renewable energy technologies that are not yet commercially viable in geographically balanced locations . in order to promote innovative projects , up to 60% of the relevant costs of projects may be supported , out of which up to 40% may not be dependent on verified avoidance of greenhouse gas emissions provided that pre - determined milestones are attained taking into account the technology deployed . ### the allowances shall be made available for innovation in low - carbon industrial technologies and processes , carbon clean operation modes in existing installations and support for demonstration projects for the development of a wide range of ccs and ccu and innovative renewable energy technologies that are not yet commercially viable in geographically balanced locations . in order to promote innovative projects , up to 80% of the relevant costs of projects , operating costs due to modifications in existing installations or investments in existing installations may be supported , out of which up to 40% may not be dependent on verified avoidance of greenhouse gas emissions provided that pre - determined milestones are attained taking into account the technology or process adaption deployed .


### for reasons of transparency and in order to strengthen the scrutiny and the democratic accountability of european political parties and the link between european civil society and the union institutions , in particular the european parliament , access to funding from the general budget of the european union should be made conditional upon the publication by the member parties of the programme and logo of the european political party concerned , as well as information regarding the gender representation among the candidates at the last elections to the european parliament and among the members of the european parliament . ### for reasons of transparency and in order to strengthen the scrutiny and the democratic accountability of european political parties and the link between european civil society and the union institutions , in particular the european parliament , access to funding from the general budget of the european union should be made conditional upon the publication by the majority of its member parties of the programme and logo of the european political party concerned .


### by the way of derogation from article 18 and as regards applications for funding for the financial year 2019 , the authorising officer of the european parliament shall , before deciding on an application on funding , request evidence from a european political party demonstrating that its member parties have continuously published on their websites , for a period beginning one month after the entry into force of regulation no . xx / 2018 , the political programme and logo of the european political party as well as information , in relation to each of the member parties of the european political party , on the gender representation among the candidates at the last elections to the european parliament and among the members of the european parliament . ### by the way of derogation from article 18 and as regards applications for funding for the financial year 2019 , the authorising officer of the european parliament shall , before deciding on an application on funding , request evidence from a european political party demonstrating that its member parties have continuously published on their websites , for a period beginning one month after the entry into force of regulation no . xx / 2018 , the political programme and logo of the european political party .


### in accordance with article 21 of the treaty on european union , the union is to define and pursue common policies and actions , and improve cooperation in all fields in international relations in order , inter alia , to encourage the integration of all countries into the world economy , including through the progressive abolition of restrictions on international trade . ### in accordance with article 21 of the treaty on european union , the union is to define and pursue common policies and actions , and improve cooperation in all fields in international relations .


### directive 2008 / 106 / ec also contains a centralised mechanism for the recognition of seafarers ' certificates issued by third countries . the regulatory fitness programme 14 evaluation showed that significant cost savings for the member states were achieved since the introduction of the centralised mechanism . however , the evaluation also revealed that , with regard to some of the recognised third countries , only a very limited number of seafarers was subsequently employed in union vessels . therefore , in order to use the available human and financial resources in a more efficient way , the procedure for the recognition of third countries should be based on an analysis of the need for such recognition , including an estimation of the number of masters and officers originating from that country who are likely to be employed in union vessels . __________________ 14 swd19 . ### directive 2008 / 106 / ec also contains a centralised mechanism for the recognition of seafarers ' certificates issued by third countries . the regulatory fitness programme 14 evaluation showed that significant cost savings for the member states were achieved since the introduction of the centralised mechanism . however , the evaluation also revealed that , with regard to some of the recognised third countries , only a very limited number of seafarers was subsequently employed in union vessels . therefore , in order to use the administration in the fight against unemployment in a more efficient way , the procedure for the recognition of third countries should be based on an analysis of the need for such recognition , in particular after estimating the number of masters and officers who are eu citizens and are likely to be employed in union vessels . __________________ 14 swd19 .


### a member state which intends to recognise , by endorsement , the certificates of competency or the certificates of proficiency referred to in paragraph 1 issued by a third country to a master , officer or radio operator , for service on ships flying its flag , shall submit a request to the commission for the recognition of that third country , accompanied by a preliminary analysis of the third country ' s compliance with the requirements of the stcw convention by collecting the information referred to in annex ii , including an estimation of the number of masters and officers from that country likely to be employed . ### a member state which intends to recognise , by endorsement , the certificates of competency or the certificates of proficiency referred to in paragraph 1 issued by a third country to a master , officer or radio operator , for service on ships flying its flag , shall submit a request to the commission for the recognition of that third country , accompanied by a preliminary analysis of the third country ' s compliance with the requirements of the stcw convention by collecting the information referred to in annex ii , including an estimation of the number of masters and officers from that country likely to be employed and the number of qualified european citizens seeking a job of the same type . employers of non - european foreigners must contribute to the training of european citizens and unemployed persons in proportion to the number of foreign workers employed . the member state shall therefore inform the commission of the measures put in place to train more european citizens through a contribution paid by the industry . all shipowners and vessels accessing eu ports shall be affected by this contribution .


### business environment , private sector development , investment , privatization processes , trade and foreign direct investment , competition and public procurement , sustainable sectoral development and support for innovation ; ### simplification of the tax and administrative environment for very small enterprises and smes , investment , fair competition and combating social dumping , fair access to education and training with a view to quality education , access to finance , investment , trade , sustainable development , innovation , public health and combating the desertification of rural and outlying areas , in addition to policies concerning the financial sector ;


### further to a dialogue with the requesting member state , including in the context of the european semester , the commission should analyse the request , taking into account the principles of transparency , equal treatment and sound financial management and determine the support to be provided based on urgency , breadth and depth of the problems as identified , support needs in respect of the policy areas envisaged , analysis of socioeconomic indicators , and the general administrative capacity of the member state . the commission should also , in close cooperation with the member state concerned , identify the priority areas , the scope of the support measures to be provided and the global financial contribution for such support , taking into account the existing actions and measures financed by union funds or other union programmes . ### further to a dialogue with the requesting member state , the commission should analyse the request , taking into account the principles of subsidiarity , proportionality and transparency , equal treatment and sound financial management and determine the support to be provided based on urgency , breadth and depth of the problems as identified , support needs in respect of the policy areas envisaged , analysis of socio - economic indicators , and the general administrative capacity of the member state . the commission should also , in close cooperation with the member state concerned , identify the priority areas , the scope of the support measures to be provided and the global financial contribution for such support , taking into account the existing actions and measures financed by union funds or other union programmes , but also ensuring that the measures taken do not have negative effects on areas which should not be considered simply as economic adjustment variables , such as education , training , public health or access to fundamental public services .


### policies for the agricultural sector and the sustainable development of rural areas ; ### policies for the agricultural sector and for combating the desertification of rural and outlying areas ;


### institutional reform and efficient and service - oriented functioning of public administration , effective rule of law , reform of the justice system and reinforcement of anti - fraud , anti - corruption and anti - money laundering ; ### institutional reform and efficient and service - oriented functioning of public administration , effective rule of law , and reinforcement of anti - fraud , anti - corruption and anti - money laundering ;


### against this background , it is necessary to establish a structural reform support programme with the objective of strengthening the capacity of member states to prepare and implement growth - enhancing administrative and structural reforms , including through assistance for the efficient and effective use of the union funds . the programme is intended to contribute to the achievement of common goals towards obtaining economic recovery , job creation , boosting europe ' s competitiveness and stimulating investment in the real economy . ### against this background , it is necessary to establish a structural reform support programme with the objective of strengthening the capacity of member states to prepare and implement growth - enhancing administrative and structural reforms , including through assistance for the efficient and effective use of the union funds . the programme is intended to contribute to the achievement of common goals towards obtaining economic recovery , access to education and training , job creation , boosting europe ' s competitiveness and stimulating investment in the real economy .


### –electrification of all transport modes including new technologies for vehicle / vessel / aircraft powertrains , fast charging / refuelling , energy harvesting and user - friendly and accessible interfaces with the charging infrastructure , ensuring interoperability and seamless services provision ; development and deployment of competitive , safe , high - performing and sustainable batteries for low and zero - emission vehicles ; ### –decarbonisation of all transport modes including new technologies for vehicle / vessel / aircraft powertrains , fast charging / refuelling , energy harvesting and user - friendly and accessible interfaces with the charging infrastructure , ensuring interoperability and seamless services provision ; development and deployment of competitive , safe , high - performing and sustainable batteries for low and zero - emission vehicles ;


### connecting and developing research infrastructures across the european research area ; ### connecting , developing and facilitating wide access to research infrastructures across the european research area ;


### –process technologies , including heating and cooling , digital tools and large - scale demonstrations for process performance and efficiency ; substantial reductions or avoidance of industrial emissions of greenhouse gases and pollutants , including particulate matter ; ### –process technologies , including heating and cooling , process agents and digital tools , especially in the form of largescale demonstrations for process performance and efficiency ; substantial reductions or avoidance of industrial emissions of greenhouse gases and pollutants , including particulate matter ;


### ' fet flagships ' supported under horizon 2020 will continue to be supported under this programme . as they present substantial analogies with missions , other ' fet flagships ' , if any , will be supported under this framework programme as missions geared towards future and emerging technologies . ### ' fet flagships ' supported under horizon 2020 will continue to be supported under this programme . as they present substantial analogies with missions , other ' fet flagships ' , if any , may be supported under this framework programme as missions geared towards future and emerging technologies .


### many of the challenges which confront the eu are also global challenges . the scale and complexity of the problems are vast , and need to be matched by the appropriate money , resources and effort in order to find solutions . these are precisely the areas where the eu must work together ; smart , flexible and joined - up for the benefit and well - being of our citizens . ### many of the challenges which confront the eu are also global challenges . the scale and complexity of the problems are vast , and need to be matched by the appropriate money , resources and effort in order to find solutions . these are precisely the areas where the eu must work collaboratively and with global partners ; smart , flexible and joined - up for the benefit and well - being of our citizens .


### reinforcing the link between research and innovation and other policies , including sustainable development goals ; ### reinforcing the link between research , innovation and education , and other policies , including sustainable development goals ;


### research funded by the erc is expected to lead to advances at the frontier of knowledge , with scientific publications of the highest quality , to research results with high societal and economic potential impact and with the erc setting a clear and inspirational target for frontier research across the eu , europe and internationally . aiming to make the eu a more attractive environment for the world ' s best scientists , the erc will target a measurable improvement in the eu ' s share of the world ' s top 1 % most highly cited publications , and aim at a substantial increase in the number of excellent researchers from outside europe which it funds . erc funding shall be awarded in accordance with the following well - established principles . scientific excellence shall be the sole criterion on which erc grants are awarded . the erc shall operate on a ' bottom - up ' basis without predetermined priorities . ### research funded by the erc is expected to lead to advances at the frontier of knowledge , with scientific publications of the highest quality , to research results with high societal and economic potential impact and with the erc setting a clear and inspirational target for frontier research across the eu , europe and internationally . aiming to make the eu a more attractive environment for the world ' s best scientists , the erc will target a measurable improvement in the eu ' s share of the world ' s top 1 % most highly cited publications , and aim at a substantial increase in the number of excellent researchers from outside europe which it funds . erc funding shall be awarded in accordance with the following well - established principles . scientific excellence shall be the sole criterion on which erc grants are awarded . the erc shall operate on a ' bottom - up ' basis without predetermined priorities . there should be a balance of fundamental , applied and transnational research and development to ensure efficient , fast translation of new discoveries into actual technologies and commercial products .


### the expected growth of variable electricity production and shift towards more electric heating , cooling and transport dictates the need for new approaches to manage energy grids . next to decarbonisation , the goal is to ensure energy affordability , security and stability of supply , achieved through investments in innovative network infrastructure technologies and innovative system management . energy storage in different forms will play a key role in providing services to the grid , also improving and reinforcing network capacities . exploiting synergies between different networks and actors will be crucial for enabling the smart , integrated operation of the relevant infrastructures . ### the expected growth of variable electricity production and shift towards more decentralised production , electric heating , cooling and transport dictates the need for new approaches to manage energy grids . next to decarbonisation , the goal is to ensure energy affordability , security and stability of supply , achieved through investments in innovative network infrastructure technologies and innovative system management . energy storage in different forms will play a key role in providing services to the grid , also improving and reinforcing network capacities . exploiting synergies between different networks and actors will be crucial for enabling the smart , integrated operation of the relevant infrastructures .


### reflecting the important contribution that research and innovation should make to address challenges in food , agriculture , rural development and the bioeconomy , and to seize the corresponding research and innovation opportunities in close synergy with common agricultural policy , relevant actions under the specific programme will be supported with eur 10 billion for the cluster ' food and natural resources ' for the period 2021 - 2027 . ### reflecting the important contribution that research and innovation should make to address challenges in food , agriculture , rural development and the bioeconomy , and to seize the corresponding research and innovation opportunities and the methods of implementation in the agricultural sector in close synergy with common agricultural policy , relevant actions under the specific programme will be supported with the dedicated eur 10 billion for the cluster ' food and natural resources ' for the period 2021 - 2027 . notes that precision farming is an important tool in increasing yields and productivity while creating a sustainable future for farming .


### since the investment plan for europe was presented in november 20143 , the conditions for an uptake in investment have improved and confidence in europe ' s economy and growth are returning . the union is now in its fourth year of moderate recovery , with gross domestic product growing at 2% in 2015 . the comprehensive efforts initiated with the investment plan are already delivering concrete results , despite the fact that macroeconomic effects of larger investment projects cannot be immediate . investment is expected to pick up gradually throughout 2016 and 2017 although it remains below historical levels . __________________ 3 com 903 final . ### since the investment plan for europe was presented in november 20143 , the conditions for an uptake in investment have not improved . nor are we seeing a return of confidence in europe ' s economy or of economic growth . average gdp growth across the member states in 2015 was a very modest 2% . the comprehensive efforts initiated with the investment plan are not delivering concrete results . investment remains at historically low levels . __________________ 3 com 903 final .


### the european investment advisory hub should be enhanced and its activities should focus on needs not covered adequately under current arrangements . it should pay particular attention to supporting the preparation of projects involving two or more member states and projects that contribute to achieving the objectives of cop21 . notwithstanding its objective to build upon existing advisory services of the eib and the commission , so to act as a single technical advisory hub for project financing within the union , the eiah should also contribute actively to the objective of sectorial and geographical diversification of the efsi and support the eib where needed in originating projects . it should also actively contribute to the establishment of investment platforms and provide advice on the combination of other sources of union funding with the efsi . ### the european investment advisory hub should be enhanced and its activities should focus on needs not covered adequately under current arrangements . it should pay particular attention to supporting the preparation of projects involving two or more member states . notwithstanding its objective to build upon existing advisory services of the eib and the commission , so to act as a single technical advisory hub for project financing within the union , the eiah should also contribute actively to the objective of sectorial and geographical diversification of the efsi and support the eib where needed in originating projects . it should also actively contribute to the establishment of investment platforms and provide advice on the combination of other sources of union funding with the efsi .


### that positive momentum should be maintained and efforts need to be continued to bring investment back to its long - term sustainable trend . the mechanisms of the investment plan work and should be reinforced to continue the mobilisation of private investments in sectors important to europe ' s future and where market failures or sub - optimal investment situations remain . ### the investment plan does not work and its mechanisms should not be reinforced . the results of the investment plan are impossible to evaluate owing to the lack of relevant data , particularly as regards the labour market .


### for a period of up to two years following the entry into force of this regulation , the commission , by means of implementing acts , may , on its own initiative , cancel the protection of geographical indications referred to in article 20 of regulation no 110 / 2008 if they do not comply with point of article 2 . those implementing acts shall be adopted in accordance with the examination procedure referred to in article 44 . ### for a period of up to two years following the entry into force of this regulation , the commission , after consulting the member state to a territory of which the geographical indication of the producers refers , and by means of implementing acts , may cancel the protection of geographical indications referred to in article 20 of regulation no 110 / 2008 if they do not comply with point of article 2 . those implementing acts shall be adopted in accordance with the examination procedure referred to in article 44 .


### additionality , a key feature of the efsi , should be strengthened in the selection of projects . in particular , operations should only be eligible for efsi support if they address clearly identified market failures or sub - optimal investment situations . operations in infrastructure under the infrastructure and innovation window linking two or more member states , including e - infrastructure , should be considered additional given their inherent difficulty and their high added value for the union . ### additionality , a key feature which hitherto has been missing from the efsi , should genuinely be taken into account in the selection of projects . in particular , operations should only be eligible for efsi support if they address clearly identified market failures or sub - optimal investment situations .


### decisions approving the use of the eu guarantee shall be public and accessible , and include the rationale for the decision , with particular focus on compliance with the additionality criterion . the publication shall not contain commercially sensitive information . in reaching its decision , the investment committee shall be supported by the documentation provided by the eib . ### decisions approving the use of the eu guarantee shall be public and accessible , and include the rationale for the decision , with particular focus on compliance with the additionality criterion .


### the coordination of economic policies within the union and the euro area and the provision of information to economic agents within the single market requires comparable data on labour market developments including statistics on labour costs , earnings and on the number of occupied and vacant posts . in addition , lifelong learning is a key element in developing and promoting a skilled , trained and adapted workforce , and particular attention should be given to vocational training in enterprises as a crucial contributor to lifelong learning . such data are mainly collected from businesses and should in the future be legislated and better integrated with other business statistics . data on the level and composition of labour costs and on the structure and distribution of earnings are needed to assess medium - term developments of union economies . data on labour cost developments and job vacancies are needed for the short–term monitoring of union economies , including for monetary policy purposes . data on enterprises ' investment in continuing vocational training , the characteristics and volume of such training as well as information on enterprises ' strategies for vocational training are needed to monitor the implementation of the union ' s strategy for enhanced cooperation in vocational education and training . ### the coordination of economic policies within the union and the euro area and the provision of information to economic agents within the single market requires comparable data on labour market developments including statistics on labour costs . in addition , lifelong learning is a key element in developing and promoting a skilled , trained and adapted workforce , and particular attention should be given to vocational training in enterprises as a crucial contributor to lifelong learning . such data are mainly collected from businesses and should in the future be legislated and better integrated with other business statistics . data on labour costs are needed to assess medium - term developments of union economies and for the short–term monitoring of union economies , including for monetary policy purposes .


### when exercising the powers referred to in paragraph 1 with regard to the simplifications , the commission shall take into account the size and importance of the business economies , in accordance with the principle of proportionality , in order to alleviate the burden on enterprises . in addition , the commission shall ensure that the input needed for compiling the accounting frameworks of national and regional accounts according to regulation no 549 / 2013 and of balance of payments statistics according to regulation no 184 / 2005 is maintained . implementing acts , except for those that regulate the first implementation of this regulation , shall be adopted at least 15 months before the end of the reference period of the data for the topics listed in annex i . for the topics ' innovation ' and ' ict usage and e - commerce ' the implementing acts shall be adopted at least six and twelve months respectively before the end of the reference period of the data . ### the commission shall only be allowed to exercise its powers referred to in paragraph 1 if it was sufficiently demonstrated that the additional overall financial burden for enterprises and member states , through the adoption of all proposed implementing acts , combined , under this regulation , do not exceed 5% compared to the present regulations no 3924 / 91 , no 48 / 2004 , no 716 / 2007 , no 177 / 2008 , no 295 / 2008 , no 1165 / 1998 , no 638 / 2004 no 808 / 2004 and decision no 1608 / 2003 , as well as the acts adopted on the basis of those regulations . with regard to the simplifications , the commission shall take into account the size and importance of the business economies , in accordance with the principle of proportionality , in order to alleviate the burden on enterprises . in addition , the commission shall ensure that the input needed for compiling the accounting frameworks of national and regional accounts according to regulation no 549 / 2013 and of balance of payments statistics according to regulation no 184 / 2005 is maintained . implementing acts for the subject area “country level business statistics” and for the subject area “regional business statistics” shall be adopted at least 18 months and 24 months respectively before the start of the reference period of the data for the topics listed in annex i . for the topics ' innovation ' and ' ict usage and e - commerce ' the implementing acts shall be adopted at least six and twelve months respectively before the start of the reference period of the data .


### the power to adopt delegated acts referred to in articles 5 , 6 , 9 and 12 shall be conferred on the commission for an indeterminate period of time . ### the power to adopt delegated acts referred to in articles 5 , 6 , 9 , 12 and 13 shall be conferred on the commission for a period of five years . the commission shall draw up a report in respect of the delegation of power not later than nine months before the end of the five - year period . the delegation of power shall be tacitly extended for periods of an identical duration , unless the european parliament or the council opposes such extension not later than three months before the end of each period .


### delegated acts are adopted at least 15 months before the end of the reference period of the data except for the topics of ' innovation ' and ' ict usage and e - commerce ' for which the delegated acts shall be adopted at least six and twelve months respectively before the end of the reference period of the data . ### delegated acts are adopted at least 18 months for the subject areas “country level business statistics” and “regional business statistics” and 24 months for the subject areas “short - term business statistics” and “statistics on international activities” before the start of the reference period of the data except for the topics of ' innovation ' and ' ict usage and e - commerce ' for which the delegated acts shall be adopted at least six and twelve months respectively before the start of the reference period of the data .


### low infrastructure investment rates in the union during the financial crisis undermined the union ' s ability to boost sustainable growth , competitiveness and convergence . sizeable investments in the european infrastructure are fundamental to meet the union ' s sustainability targets , including the 2030 energy and climate targets . accordingly , support from the investeu fund should target investments into transport , energy , including energy efficiency and renewable energy , environmental , climate action , maritime and digital infrastructure . to maximise the impact and the value added of union financing support , it is appropriate to promote a streamlined investment process enabling visibility of the project pipeline and consistency across relevant union programmes . bearing in mind security threats , investment projects receiving union support should take into account principles for the protection of citizens in public spaces . this should be complementary to the efforts made by other union funds such as the european regional development fund providing support for security components of investments in public spaces , transport , energy and other critical infrastructure . ### low infrastructure investment rates in the union during the financial crisis undermined the union ' s ability to boost sustainable growth , competitiveness and convergence . the relatively weak performance of the infrastructure window under efsi indicates the low demand side of the market to invest in infrastructures , especially cross - border infrastructures , despite the availability of supply - side instruments . sizeable investments in the european infrastructure are fundamental to meet the union ' s sustainability targets , including the 2030 energy and climate targets . accordingly , support from the investeu fund should target investments into transport , energy , including energy efficiency and renewable energy , environmental , climate action , including renewable materials , maritime and digital infrastructure . to maximise the impact and the value added of union financing support , it is appropriate to promote a streamlined investment process enabling visibility of the project pipeline and consistency across relevant union programmes . bearing in mind security threats , investment projects receiving union support should take into account principles for the protection of citizens in public spaces . this should be complementary to the efforts made by other union funds such as the european regional development fund providing support for security components of investments in public spaces , transport , energy and other critical infrastructure .


### cvs and declarations of interest of each member of the investment committee shall be made public and constantly updated . each member of the investment committee shall communicate without delay to the commission all information needed to check on an ongoing basis the absence of any conflict of interest . ### cvs and declarations of interest of each member of the investment committee shall be made public and constantly updated . each member of the investment committee shall communicate without delay to the commission and the steering committee all information needed to check on an ongoing basis the absence of any conflict of interest .


### the investeu fund should contribute to improving the competitiveness of the union , including in the field of innovation and digitisation , the sustainability of the union ' s economic growth , the social resilience and inclusiveness and the integration of the union capital markets , including solutions addressing their fragmentation and diversifying sources of financing for the union enterprises . to that end , it should support projects that are technically and economically viable by providing a framework for the use of debt , risk sharing and equity instruments underpinned by a guarantee from the union ' s budget and by contributions from implementing partners . it should be demand - driven while support under the investeu fund should at the same time focus on contributing to meeting policy objectives of the union . ### the investeu fund should contribute to improving the competitiveness of the union , including in the field of innovation and digitisation , the sustainability of the union ' s economic growth , the social resilience and inclusiveness and the integration of the union capital markets , including solutions addressing their fragmentation and diversifying sources of financing for the union enterprises . to that end , it should support projects that are technically and economically viable by providing a framework for the use of debt , risk sharing and equity instruments underpinned by a guarantee from the union ' s budget and by contributions from implementing partners as relevant . it should be demand - driven while support under the investeu fund should at the same time focus on contributing to meeting policy objectives of the union .


### in selecting implementing partners for the deployment of the investeu fund , the commission should consider the counterpart ' s capacity to fulfil the objectives of the investeu fund and contribute its own resources , in order to ensure adequate geographical coverage and diversification , to crowd - in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub - optimal investment situations . given its role under the treaties , its capacity to operate in all member states and the existing experience under the current financial instruments and the efsi , the european investment bank group should remain a privileged implementing partner under the investeu fund ' s eu compartment . in addition to the eib group , national promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the union . moreover , it should be possible to have other international financial institutions as implementing partners , in particular when they present a comparative advantage in terms of specific expertise and experience in certain member states . it should also be possible for other entities fulfilling the criteria laid down in the financial regulation to act as implementing partners . ### in selecting implementing partners for the deployment of the investeu fund , the commission should consider the counterpart ' s capacity to fulfil the objectives of the investeu fund and to contribute to it , in order to ensure adequate geographical coverage and diversification , to crowd - in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub - optimal investment situations , and ensure economic , social and territorial cohesion . given its role under the treaties , its capacity to operate in all member states and the existing experience under the current financial instruments and the efsi , the eib group should remain a privileged implementing partner under the investeu fund ' s eu compartment . in addition to the eib group , national , regional and local promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the union . moreover , it should be possible to have other international financial institutions as implementing partners , in particular when they present a comparative advantage in terms of specific expertise and experience in certain member states . it should also be possible for other entities fulfilling the criteria laid down in the financial regulation to act as implementing partners .


### the eu guarantee underpinning the investeu fund should be implemented indirectly by the commission relying on implementing partners with outreach to final recipients . a guarantee agreement allocating guarantee capacity from the investeu fund should be concluded by the commission with each implementing partner , to support its financing and investment operations meeting the investeu fund objectives and eligibility criteria . the investeu fund should be provided with a specific governance structure to ensure the appropriate use of the eu guarantee . ### the eu guarantee underpinning the investeu fund should be implemented indirectly by the commission relying on implementing partners with outreach to financial intermediaries and final recipients . a guarantee agreement allocating guarantee capacity from the investeu fund should be concluded by the commission with each implementing partner , to support its financing and investment operations meeting the investeu fund objectives and eligibility criteria . the investeu fund should be provided with a specific governance structure to ensure the appropriate use of the eu guarantee .


### social investment and skills policy window : comprises microfinance , social enterprise finance and social economy ; skills , education , training and related services ; social infrastructure ; social innovation ; health and long - term care ; inclusion and accessibility ; cultural activities with a social goal ; integration of vulnerable people , including third country nationals . ### social investment and skills policy window : comprises microfinance , social enterprise finance , female entrepreneurship and social economy ; skills , education , training and related services , including student loans ; social infrastructure ; social innovation ; health and long - term care ; inclusion and accessibility ; cultural activities in particular with a social goal ; integration of vulnerable people , including third country nationals .


### in selecting implementing partners for the deployment of the investeu fund , the commission should consider the counterpart ' s capacity to fulfil the objectives of the investeu fund and contribute its own resources , in order to ensure adequate geographical coverage and diversification , to crowd - in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub - optimal investment situations . given its role under the treaties , its capacity to operate in all member states and the existing experience under the current financial instruments and the efsi , the european investment bank group should remain a privileged implementing partner under the investeu fund ' s eu compartment . in addition to the eib group , national promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the union . moreover , it should be possible to have other international financial institutions as implementing partners , in particular when they present a comparative advantage in terms of specific expertise and experience in certain member states . it should also be possible for other entities fulfilling the criteria laid down in the financial regulation to act as implementing partners . ### in selecting implementing partners for the deployment of the investeu fund , the relevant considerations should include the counterpart ' s capacity to fulfil the objectives of the investeu fund and to contribute to it , in order to ensure adequate geographical coverage and diversification , to crowd - in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub - optimal investment situations , and ensure economic , social and territorial cohesion . given its role under the treaties , its capacity to operate in all member states and the existing experience under the current financial instruments and the efsi , the eib group should be responsible for the investeu advisory hub and indirectly manage the eu guarantees for the eu compartment and the member state compartment . the implementing partners will be as follows : the eib group under the eib window of the eu compartment the national promotional banks or institutions with whom a guarantee agreement is signed under the npbi window of the eu compartment , the eligible counterpart such as a financial institution or other intermediary with whom a guarantee agreement is signed under the member state compartment and the eib under the investeu advisory hub . in line with its role in the treaties , eib will provide all strategic banking competences for the commission and other implementing partners . . in addition to the eib group , national , regional and local promotional banks or institutions , where they are implementing partners , should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the union . moreover , it should be possible to have other international financial institutions as implementing partners , under the member state compartment , provided they present a comparative advantage in terms of specific expertise and experience in certain member states . it should also be possible for other entities fulfilling the criteria laid down in the financial regulation to act as implementing partners .


### support of the eu guarantee may be granted for financing and investment operations covered by this regulation for an investment period ending on 31 december 2027 . contracts between the implementing partner and the final recipient or the financial intermediary or other entity referred to in article 13 shall be signed by 31 december 2028 . ### support of the eu guarantee may be granted for financing and investment operations covered by this regulation for an investment period ending on 31 december 2027 . guarantee agreements between the eib and implementing partners , where applicable , shall be approved by 31 december 2027 . contracts between the implementing partner and the final recipient or the financial intermediary or other entity referred to in article 13 shall be approved by 31 december 2028 . for avoidance of doubt , such dates shall not apply for operations conducted between financial intermediaries and final recipients . where an implementing partner calls on the eu guarantee in accordance with a guarantee agreement or the investeu agreement , the union shall pay on demand in accordance with the terms of that agreement .


### the eu guarantee under the member state compartment should be allocated to any implementing partner eligible according to [ article 62 ] of the [ financial regulation ] , including national or regional promotional banks or institutions , the eib , the european investment fund and other multilateral development banks . when selecting implementing partners under the member state compartment , the commission should take into account the proposals made by each member state . in accordance with [ article 154 ] of the [ financial regulation ] , the commission must carry out an assessment of the rules and procedures of the implementing partner to ascertain that they provide a level of protection of the financial interest of the union equivalent to the one provided by the commission . ### the eu guarantee under the member state compartment should be allocated to any implementing partner eligible according to [ article 62 ] of the [ financial regulation ] , including national or regional promotional banks or institutions , the eib group and other multilateral development banks . where the deployment of the member state compartment is to target policy actions already addressed by the eu compartment through similar financing and investment operations , the member state compartment and the eu compartment shall have the same implementing partners . when selecting implementing partners under the member state compartment , the commission should take into account the proposals made by each member state . in accordance with [ article 154 ] of the [ financial regulation ] , the commission must carry out an assessment of the rules and procedures of the implementing partner to ascertain that they provide a level of protection of the financial interest of the union equivalent to the one provided by the commission .


### provide advice to the commission about market failures and sub - optimal investment situations and market conditions ; ### provide advice to the steering committee about market failures and sub - optimal investment situations and market conditions ;


### if the level of provisions for that part of the eu guarantee under the member state compartment reaches 10 % of the initial provisioning , the member state concerned shall provide to the common provisioning fund up to 5 % of the initial provisioning upon request by the commission . ### if the level of provisions for that part of the eu guarantee under the member state compartment reaches 10 % of the initial provisioning , the member state or region concerned shall provide to the common provisioning fund up to 5 % of the initial provisioning upon request by the commission .


### the overall amount of the part of the eu guarantee under the member state compartment pertaining to the member state , its provisioning rate , the amount of the contribution from funds under shared management , the constitution phase of the provisioning in accordance with an annual financial plan and the amount of the resulting contingent liability to be covered by a back - to - back guarantee provided by the member state concerned ; ### the overall amount of the part of the eu guarantee under the member state compartment pertaining to the member state or region , its provisioning rate , the amount of the contribution from funds under shared management , the constitution phase of the provisioning in accordance with an annual financial plan and the amount of the resulting contingent liability to be covered by a back - to - back guarantee provided by the member state concerned ;


### in selecting implementing partners for the deployment of the investeu fund , the commission should consider the counterpart ' s capacity to fulfil the objectives of the investeu fund and contribute its own resources , in order to ensure adequate geographical coverage and diversification , to crowd - in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub - optimal investment situations . given its role under the treaties , its capacity to operate in all member states and the existing experience under the current financial instruments and the efsi , the european investment bank group should remain a privileged implementing partner under the investeu fund ' s eu compartment . in addition to the eib group , national promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the union . moreover , it should be possible to have other international financial institutions as implementing partners , in particular when they present a comparative advantage in terms of specific expertise and experience in certain member states . it should also be possible for other entities fulfilling the criteria laid down in the financial regulation to act as implementing partners . ### in selecting implementing partners for the deployment of the investeu fund , the relevant considerations should include the counterpart ' s capacity to fulfil the objectives of the investeu fund and to contribute its resources to the fund , in order to ensure adequate geographical coverage and diversification , to crowd - in private investors and to provide sufficient risk diversification as well as new solutions to address union - wide and / or member state specific market failures and sub - optimal investment situations . given its role under the treaties , its capacity to operate in all member states and the existing experience under the current financial instruments and the efsi , the european investment bank group should indirectly manage the eu guarantee for the eu compartment and the member state compartment . the implementing partners are as follows : the eib group under the eib window of the eu compartment the national promotional banks or institutions with whom a guarantee agreement is signed under the npbi window of the eu compartment . in line with its role in the treaties , the eib provides all strategic banking competences for the commission and other implementing partners . in addition to the eib group , national and regional promotional banks or institutions , where they are implementing partners , should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the union .


### in selecting implementing partners for the deployment of the investeu fund , the commission should consider the counterpart ' s capacity to fulfil the objectives of the investeu fund and contribute its own resources , in order to ensure adequate geographical coverage and diversification , to crowd - in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub - optimal investment situations . given its role under the treaties , its capacity to operate in all member states and the existing experience under the current financial instruments and the efsi , the european investment bank group should remain a privileged implementing partner under the investeu fund ' s eu compartment . in addition to the eib group , national promotional banks or institutions should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the union . moreover , it should be possible to have other international financial institutions as implementing partners , in particular when they present a comparative advantage in terms of specific expertise and experience in certain member states . it should also be possible for other entities fulfilling the criteria laid down in the financial regulation to act as implementing partners . ### in selecting implementing partners for the deployment of the investeu fund , the commission should consider the counterpart ' s capacity to fulfil the objectives of the investeu fund and its contribution as defined in point 2 a of paragraph 1 of article 2 of this regulation , in order to ensure adequate geographical coverage and diversification , to crowd - in private investors and to provide sufficient risk diversification as well as new solutions to address market failures and sub - optimal investment situations . given its role under the treaties , its capacity to operate in all member states and the existing experience under the current financial instruments and the efsi , the european investment bank group should remain a privileged implementing partner under the investeu fund ' s eu compartment and the commission should closely cooperate with the eib group , and where appropriate coordinate with the other implementing partners , in the management of the investeu advisory hub in order to ensure efficiency , synergies and an effective geographic support coverage across the union while taking due account of existing structures and work in this regard , such as the european investment advisory hub . in addition to the eib group , national , regional and local promotional banks or institutions , where they are implementing partners , should be able to offer a complementary financial product range given that their experience and capabilities at regional level could be beneficial for the maximisation of the impact of public funds on the territory of the union . the rules on the participation of national , regional or local promotional banks or institutions in the program should take into account the principle of proportionality with regard to complexity , size and risk of the implementing partners concerned to ensure a level - playing field for smaller and younger promotional banks or institutions . moreover , it should be possible to have other international financial institutions as implementing partners , in particular when they present a comparative advantage in terms of specific expertise and experience in certain member states . it should also be possible for other entities fulfilling the criteria laid down in the financial regulation to act as implementing partners .


### each configuration of the investment committee shall be composed of six remunerated external experts . the experts shall be selected in accordance with [ article 237 ] of the [ financial regulation ] and be appointed by the commission for a fixed term of up to four years . their term shall be renewable but shall not exceed seven years in total . the commission may decide to renew the term of office of an incumbent member of the investment committee without availing itself of the procedure laid down in this paragraph . ### each configuration of the investment committee shall be composed of seven remunerated external experts . the experts shall be selected in accordance with [ article 237 ] of the [ financial regulation ] and be appointed by the commission for a fixed term of up to four years . their term shall be renewable but shall not exceed seven years in total . the commission may decide to renew the term of office of an incumbent member of the investment committee without availing itself of the procedure laid down in this paragraph .


### support of the eu guarantee may be granted for financing and investment operations covered by this regulation for an investment period ending on 31 december 2027 . contracts between the implementing partner and the final recipient or the financial intermediary or other entity referred to in article 13 shall be signed by 31 december 2028 . ### support of the eu guarantee may be granted for financing and investment operations covered by this regulation for an investment period ending on 31 december 2027 . guarantee agreements between the eib and implementing partners , where applicable , shall be approved by 31 december 2027 . contracts between the implementing partner and the final recipient or the financial intermediary or other entity referred to in article 13 shall be approved by 31 december 2028 . for avoidance of doubt , such dates shall not apply for operations conducted between financial intermediaries and final recipients . 3 . where an implementing partner calls on the eu guarantee in accordance with a guarantee agreement or the investeu agreement , the union shall pay on demand in accordance with the terms of the agreement .


### the union ' s ambitious external investment plan is needed to support investments starting in africa and the union ' s neighbourhood as a means to promote the sustainable development goals of the united nations 2030 agenda for sustainable development as well as the commitments under the recently revised european neighbourhood policy thus addressing root causes of migration . it should also contribute to the implementation of the paris agreement on climate change . ### the member states ' ambitious external investment plan is a possible means of supporting investments starting in africa and the union ' s neighbourhood as a means to promote the sustainable development goals of the united nations 2030 agenda for sustainable development . it should also contribute to the implementation of the paris agreement on climate change .


### provide finance in favour of micro - , small - and medium - sized enterprises with a particular focus on private sector development ; ### support private sector development , with a particular focus on local companies and micro , small and medium - sized enterprises ;


### moreover , the strategic board should support the commission in setting strategic guidance and overall investment goals . the strategic board should also support coordination and coherence between the regional platforms . this should ensure complementarity of the various instruments in external action . the strategic board should be co - chaired by the commission and the high representative of the union for foreign affairs and security policy to ensure consistency and coherence with union external policy objectives and partnership frameworks with third countries . ### the council should be responsible for providing guidance on the investments allowed under the fund , which is financed by the member states ;


### the power to adopt delegated acts referred to in article 3 , 5 , 8 , 10 and 13 shall be conferred on the commission for an indeterminate period of time from the [ date of entry into force ] . ### the power to adopt delegated acts referred to in article 3 , 8 , 10 and 13 shall be conferred on the commission for an indeterminate period of time from the [ date of entry into force ] .


### natural disturbances , such as wildfires , insect and disease infestations , extreme weather events and geological disturbances that are beyond the control of , and not materially influenced by , a member state , may result in greenhouse gas emissions of a temporary nature in the lulucf sector , or may cause the reversal of previous removals . as reversal can also be the result of management decisions , such as decisions to harvest or plant trees , this regulation should ensure that human - induced reversals of removals are always accurately reflected in lulucf accounts . moreover , this regulation should provide member states with a limited possibility to exclude emissions resulting from disturbances that are beyond their control from their lulucf accounts . however , the manner in which member states apply those provisions should not lead to undue under - accounting . ### natural disturbances , such as wildfires , insect and disease infestations , extreme weather events and geological disturbances that are beyond the control of , and not materially influenced by , a member state , may result in greenhouse gas emissions of a temporary nature in the lulucf sector , or may cause the reversal of previous removals . moreover , this regulation should provide member states with a limited possibility to exclude emissions resulting from disturbances that are beyond their control from their lulucf accounts . however , the manner in which member states apply those provisions should not lead to undue under - accounting .


### in an increasingly interconnected world and in view of the demographic and migration dynamics , it is clear that union migration policy requires a common approach that relies on the synergies and complementarities of the different funding instruments . in order to ensure coherent , strong and consistent support for solidarity and responsibility - sharing efforts between member states in managing migration , the erdf should provide support to facilitate the long - term integration of migrants . ### in an increasingly interconnected world and in view of the demographic and migration dynamics , it is clear that union migration policy requires a common approach that relies on the synergies and complementarities of the different funding instruments . in order to ensure coherent , strong and consistent support for member states confronting massive immigration because they are a transit country or country of destination , the erdf should provide support to facilitate efforts to combat illegal immigration .


### increasing the socioeconomic integration of marginalised communities , migrants and disadvantaged groups , through integrated measures including housing and social services ; ### increasing the socioeconomic integration of marginalised communities , migrants , the homeless and disadvantaged groups , through integrated measures including housing and social services ;


### member states shall not make the registration of an sup conditional on obtaining any licence or authorisation . the registration of the sup , all documents provided during the process of registration and subsequent changes to them , shall be disclosed in the relevant register of companies immediately after registration . ### the registration of the sup , all documents provided during the process of registration and subsequent changes to them , shall be disclosed in the relevant register of companies immediately after registration .


### small - scale coastal fishing is carried out by fishing vessels below 12 metres and not using towed fishing gears . that sector represents nearly 75% of all fishing vessels registered in the union and nearly half of all employment in the fishery sector . operators from small - scale coastal fisheries are particularly dependant on healthy fish stocks for their main source of income . the emff should therefore give them a preferential treatment through a 100% aid intensity rate , including for operations related to control and enforcement , with the aim of encouraging sustainable fishing practices . in addition , certain areas of support should be reserved for small - scale fishing in fleet segment where the fishing capacity is balanced with the available fishing opportunities , i . e . support for the acquisition of a second - hand vessel and for engine replacement or modernisation . furthermore , member states should include in their programme an action plan for small - scale coastal fishing , which should be monitored on the basis of indicators for which milestones and targets should be set . ### small - scale coastal fishing is defined by the member states in their programmes . that sector represents the majority of all fishing vessels registered in the union and of all employment in the fishery sector . operators from small - scale coastal fisheries are particularly dependant on healthy fish stocks for their main source of income . the emff should therefore give them a preferential treatment through a 100% aid intensity rate , including for operations related to control and enforcement , with the aim of encouraging sustainable fishing practices . in addition , certain areas of support should be reserved for small - scale fishing in fleet segment where the fishing capacity is balanced with the available fishing opportunities , i . e . support for the acquisition or modernisation of a vessel . furthermore , member states should include in their programme an action plan for small - scale coastal fishing , which should be monitored on the basis of indicators for which milestones and targets should be set .


### contributing to food security in the union through competitive and sustainable aquaculture and markets ; ### contributing to food security in the union through competitive and sustainable fisheries , aquaculture and markets


### fisheries are vital to the livelihood and cultural heritage of many coastal communities in the union , in particular where small - scale coastal fishing plays an important role . with the average age in many fishing communities being over 50 , generational renewal and diversification of activities remain a challenge . ### fisheries are vital to the livelihood and cultural heritage of many coastal communities in the union , in particular where small - scale coastal fishing plays an important role . with the average age in many fishing communities being over 50 , generational renewal and diversification of activities remain a challenge , and the attractiveness of this activity , particularly for younger people , remains an issue .


### it should be possible for the emff to support the promotion and the sustainable development of aquaculture , including freshwater aquaculture , for the farming of aquatic animals and plants for the production of food and other raw material . complex administrative procedures in some member states remain in place , such as difficult access to space and burdensome licensing procedures , which make it difficult for the sector to improve the image and competitiveness of farmed products . support should be consistent with the multiannual national strategic plans for aquaculture developed on the basis of regulation no 1380 / 2013 . in particular , support for environmental sustainability , productive investments , innovation , acquisition of professional skills , improvement of working conditions , compensatory measures providing critical land and nature management services should be eligible . public health actions , aquaculture stock insurance schemes and animal health and welfare actions should also be eligible . however , in the case of productive investments support should be provided only through financial instruments and through investeu , which offer a higher leverage on markets and are therefore more relevant than grants to address the financing challenges of the sector . ### it should be possible for the emff to support the promotion and the sustainable development of aquaculture , including freshwater aquaculture , for the farming of aquatic animals and plants for the production of food and other raw material . complex administrative procedures in some member states remain in place , such as difficult access to space and burdensome licensing procedures , which make it difficult for the sector to improve the image and competitiveness of farmed products . support should be consistent with the multiannual national strategic plans for aquaculture developed on the basis of regulation no 1380 / 2013 . in particular , support for environmental sustainability , productive investments , innovation , acquisition of professional skills , improvement of working conditions , compensatory measures providing critical land and nature management services should be eligible . public health actions , aquaculture stock insurance schemes and animal health and welfare actions should also be eligible .


### drivers engaged in long - distance international transport operations spend long periods away from their home . the current requirements on the regular weekly rest unnecessarily prolong those periods . it is thus desirable to adapt the provision on the regular weekly rest in such a way that it is easier for drivers to carry out transport operations in compliance with the rules and to reach their home for a regular weekly rest , and be fully compensated for all reduced weekly rest periods . it is also necessary to provide that operators organise the work of drivers in such a way that these periods away from home are not excessively long . ### drivers engaged in long - distance international transport operations spend long periods away from their home . due to the current lack of secure parking and adequate resting facilities , it is necessary to provide for operators to organise the work of drivers in such a way that the periods away from home are not excessively long and that drivers have the possibility to return home on a regular basis .


### drivers engaged in long - distance international transport operations spend long periods away from their home . the current requirements on the regular weekly rest unnecessarily prolong those periods . it is thus desirable to adapt the provision on the regular weekly rest in such a way that it is easier for drivers to carry out transport operations in compliance with the rules and to reach their home for a regular weekly rest , and be fully compensated for all reduced weekly rest periods . it is also necessary to provide that operators organise the work of drivers in such a way that these periods away from home are not excessively long . ### drivers engaged in long - distance international transport operations spend long periods away from their home . it is thus desirable to enforce the application of the provision on the regular weekly rest in such a way that it is easier for drivers to carry out transport operations in compliance with the rules and to reach their home for a regular weekly rest , and be fully compensated for all reduced weekly rest periods . to ensure secure and decent working conditions , it is necessary to provide for operators to organise the work of drivers in such a way that the periods away from their home are not excessively long and that drivers have the possibility to return home on a regular basis and are able to benefit from decent rest conditions in quality accommodation . where a driver chooses to spend that rest period at home , the transport undertaking should provide the driver with the financial or practical means to return there . moreover , the duration of the return journey should not be taken into account for the purposes of calculating the length of the rest period . where a driver chooses to spend the rest period in a place other than their home , this should not be taken into account for the purposes of calculating the driver’s entitlement to travel allowances .


### an administrator shall publish the input data used to determine the benchmark immediately after publication of the benchmark except where publication would have serious adverse consequences for the contributors or adversely affect the reliability or integrity of the benchmark . in such cases publication may be delayed for a period that significantly diminishes these consequences . any personal data included in input data shall not be published . ### an administrator shall publish the input data and the methodologies used to determine the benchmark immediately after publication of the benchmark .


### the main objective of prudential supervision is the protection of members and beneficiaries . ### the main objective of prudential supervision is the protection of the rights of members and beneficiaries and the stability and soundness of the institutions .


### member states shall allow institutions authorised or registered in their territories to transfer all or a part of their pension schemes to receiving institutions authorised or registered in other member states . ### member states may allow institutions authorised or registered in their territories to transfer , fully or partly , a pension scheme ' s liabilities or technical provisions , as well as other obligations and rights and corresponding assets , or cash equivalent thereof , to receiving institutions authorised or registered in other member states , provided that , in the case of a transfer of part of the pension scheme , the viability of both the transferred and the remaining part of the pension scheme is ensured and the rights of&#160 ; members are adequately protected after the transfer . the receiving institution shall operate the pension scheme in accordance with the social and labour law of the host member state , thereby not changing the level of protection of the members and beneficiaries concerned by the transfer .


### in accordance with the principle of subsidiarity , member states should retain full responsibility for the organisation of their pension systems as well as for the decision on the role of each of the three “pillars” of the retirement system in individual member states . in the context of the second pillar , they should also retain full responsibility for the role and functions of the various institutions providing occupational retirement benefits , such as industry - wide pension funds , company pension funds and life - assurance companies . this directive is not intended to call this prerogative into question . ### in accordance with the principle of subsidiarity , member states should retain responsibility for the organisation of their pension systems , provided that a high level of protection and regulation is guaranteed .


### at global level , to consolidate and support democracy , rule of law and human rights , support civil society organisations , further stability and peace and address other global challenges including migration and mobility ; ### at global level , to consolidate stability and peace and address other global challenges , in line with the principle of non - intervention set out in article 2 of the united nations charter ;


### the general objective of this regulation is to uphold and promote the union ' s values and interests worldwide in order to pursue the objectives and principles of the union ' s external action , as laid down in article 3 , articles 8 and 21 of the treaty on european union . ### the general objective of this regulation is to support member states in their action worldwide in order to pursue the objectives and principles set out in the united nations charter .


### it is essential to further step up cooperation on migration with partner countries , reaping the benefits of well - managed and regular migration and effectively addressing irregular migration . such cooperation should contribute to ensuring access to international protection , addressing the root causes of irregular migration , enhancing border management and pursuing efforts in the fight against irregular migration , trafficking in human beings and migrant smuggling , and working on returns , readmission and reintegration where relevant , on the basis of mutual accountability and full respect of humanitarian and human rights obligations . therefore , third countries ' effective cooperation with the union in this area should be an integral element in the general principles of this regulation . an increased coherence between migration and development cooperation policies is important to ensure that development assistance supports partner countries to manage migration more effectively . this regulation should contribute to a coordinated , holistic and structured approach to migration , maximising the synergies and applying the necessary leverage . ### cooperation on migration with partner countries should be based on the global compact on safe , orderly and regular migration and the global compact on refugees and enable developing countries to reap the benefits of well - managed and regular migration , effectively addressing the root causes of forced migration and displacement and alleviate the burden of developing countries which host the highest number of refugees worldwide . it should contribute to ensuring access to international protection and work on reintegration after return where relevant in a conflict sensitive manner to avoid negative impacts on conflict dynamics . the cooperation should contribute to facilitate safe and regular migration , engagement with diaspora , financial intermediaries and programmes enhancing the development impact of remittances . such cooperation should be based on mutual accountability , with full respect of humanitarian and human rights obligations .


### this regulation should enable the union to respond to challenges , needs and opportunities related to migration , in complementarity with union migration policy . to contribute to that end , and without prejudice to unforeseen circumstances , 10% of its financial envelope is expected to be dedicated to addressing the root causes of irregular migration and forced displacement and to supporting migration management and governance including the protection of refugees and migrants ' rights within the objectives of this regulation . ### this regulation should enable the union to respond to challenges , needs and opportunities related to migration , in complementarity with union migration policy . to contribute to that end , and without prejudice to unforeseen circumstances , 10% of its financial envelope is expected to be dedicated to addressing the root causes of irregular migration and forced displacement and to supporting migration management and governance including the protection of refugees and migrants ' rights within the objectives of this regulation . one of the most effective ways of encouraging people who are forced to leave , primarily for economic reasons , to settle in their country of origin is by providing development aid which targets the deep and essentially economic and social reasons for them migrating .


### the global context for action is the pursuit of a rules - based global order , with multilateralism as its key principle and the united nations at its core . the 2030 agenda , together with the paris agreement on climate change57and the addis ababa action agenda58is the international community’s response to global challenges and trends in relation to sustainable development . with the sustainable development goals at its core , the 2030 agenda is a transformative framework to eradicate poverty and achieve sustainable development globally . it is universal in scope , providing a comprehensive shared framework for action that applies to the union , to its member states and to its partners . it balances the economic , social and environmental dimensions of sustainable development , recognising the essential interlinkages between its goals and targets . the 2030 agenda aims to leave no one behind . the implementation of the 2030 agenda will be closely coordinated with the union ' s other relevant international commitments . actions undertaken by this regulation should pay particular attention to interlinkages between sustainable development goals and to integrated actions that can create co - benefits and meet multiple objectives in a coherent way . _________________ 57 signed in new york on 22 april 2016 . 58 ' addis ababa action agenda of the third international conference on financing for development ' , adopted on 16 june 2015 and endorsed by the united nations general assembly on 27 july 2015 . ### the global context for action is the pursuit of a rules - based global order , with multilateralism and national sovereignty as its key principles and the united nations at its core . the 2030 agenda , together with the paris agreement on climate change57 and the addis ababa action agenda58 is the international community’s response to global challenges and trends in relation to sustainable development . with the sustainable development goals at its core , the 2030 agenda is a transformative framework to eradicate poverty and achieve sustainable development globally . it is universal in scope , providing a comprehensive shared framework for action that applies to the union , to its member states and to its partners . it balances the economic , social and environmental dimensions of sustainable development , recognising the essential interlinkages between its goals and targets . the 2030 agenda aims to leave no one behind . the implementation of the 2030 agenda will be closely coordinated with the union’s other relevant international commitments . the implementation of the 2030 agenda will be closely coordinated with the union ' s other relevant international commitments . actions undertaken by this regulation should pay particular attention to interlinkages between sustainable development goals and to integrated actions that can create co - benefits and meet multiple objectives in a coherent way . _________________ 57 signed in new york on 22 april 2016 . 58 ' addis ababa action agenda of the third international conference on financing for development ' , adopted on 16 june 2015 and approved by the united nations general assembly on 27 july 2015 .


### the implementation of this regulation should be guided by the five priorities established in the global strategy for the european union’s foreign and security policy 59 , presented on 19 june 2016 , which represents the union ' s vision and the framework for united and responsible external engagement in partnership with others , to advance its values and interests . the union should enhance partnerships , promote policy dialogue and collective responses to challenges of global concern . its action should support the union’s interests and values in all its aspects , including preserving peace , preventing conflicts , strengthening international security , fighting root causes of irregular migration and assisting populations , countries and regions confronting natural or man - made disasters , supporting trade policy , economic diplomacy and economic cooperation , promoting digital solutions and technologies , and fostering the international dimension of union’s policies . in promoting its interests , the union should comply with , and promote , the principles of respect for high social and environmental standards , for the rule of law , for international law and for human rights . _________________ 59 ' shared vision , common action : a stronger europe . a global strategy for the european union ' s foreign and security policy ' , june 2016 . ### the implementation of this regulation should be guided by the five priorities established in the global strategy for the european union’s foreign and security policy 59 , presented on 19 june 2016 , which represents the union ' s vision and the framework for united and responsible external engagement in partnership with others , to advance its values and interests . the union should enhance partnerships , promote policy dialogue and collective responses to challenges of global concern . its action should support the union’s interests and values in all its aspects , including preserving peace , preventing conflicts , strengthening international security , fighting root causes of irregular migration and assisting populations , countries and regions confronting natural or man - made disasters , supporting trade policy , economic diplomacy and economic cooperation , promoting digital solutions and technologies , and fostering the international dimension of union policies . in promoting its interests , the union should comply with , and promote , the principles of respect for high social and environmental standards , for the rule of law , for international law and for human rights . the european union must respect the sovereignty of states . _________________ 59 ' shared vision , common action : a stronger europe . a global strategy for the european union ' s foreign and security policy ' , june 2016 .


### the managing director shall reply orally or in writing to questions addressed to the efsi by the european parliament , in any event within five weeks of receipt of a question . ### the managing director shall reply orally to questions by the european parliament , in any event within two weeks of receipt of a question .


### 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 orally to the european parliament and to the council on eib financing and investment operations every semester as well as annually in written form . both reports shall be made public and include :


### the commission is empowered to adopt delegated acts in accordance with article 38 to amend the indicators in annex i where considered necessary to ensure effective assessment of progress in the implementation of programmes . ### the commission is empowered to adopt delegated acts in accordance with article 38 to amend the indicators in annex i where considered necessary to ensure effective assessment of progress in the implementation of programmes . in accordance with article 290 tfeu , these non - legislative delegated acts can only supplement the annexes . they cannot alter the essential elements of the legislative act and shall refer only to the annexes forming part of the regulatory framework . parliament and the council may revoke the delegation and / or object to the delegated act and / or stipulate that the delegated act may enter into force only if no objection has been expressed by parliament or the council within a period set by the legislative act .


### all programmes implemented under the esf + strand under shared management , as well as the operations supported by the employment and social innovation and health strands shall ensure equality between men and women throughout their preparation , implementation , monitoring and evaluation . they shall also promote equal opportunities for all , without discrimination based on sex , racial or ethnic origin , religion or belief , disability , age or sexual orientation throughout their preparation , implementation , monitoring and evaluation . ### all programmes implemented under the esf + strand under shared management , as well as the operations supported by the employment and social innovation and health strands shall respect the principle of equality between men and women throughout their preparation , implementation , monitoring and evaluation . they shall also promote equal opportunities for all , without discrimination based on sex , racial or ethnic origin , religion or belief , disability , age or sexual orientation throughout their preparation , implementation , monitoring and evaluation .


### the esf + shall support the following specific objectives in the policy areas of employment , education , social inclusion and health and thereby also contributing to the policy objective for &#8220 ; a more social europe - implementing the european pillar of social rights&#8221 ; set out in article [ 4 ] of the [ future cpr ] : ### the esf + shall support the following specific objectives in the policy areas of employment , education and health and thereby also helping member states to attain the policy objective for &#8220 ; a more social europe - implementing the european pillar of social rights&#8221 ; set out in article [ 4 ] of the [ future cpr ] :


### in order to increase the added value of the appeal committee its role should therefore be strengthened by providing for the possibility of holding a further meeting of the appeal committee whenever no opinion is delivered . the appropriate level of representation at the further meeting of the appeal committee should be ministerial level , to ensure a political discussion . to allow the organisation of such a further meeting the timeframe for the appeal committee to deliver an opinion should be extended . ### in order to increase the added value of the appeal committee its role should therefore be strengthened by providing that it vote unanimously . in fact , as the matters discussed within this committee are extremely sensitive and neither the commission nor the member states wish to assume responsibility for certain decisions , a power the commission no longer wants should be withdrawn while the member states should be made to act in accordance with their prerogatives . unanimity will ensure that in regard to extremely political issues member states cannot have unwelcome rules imposed on them .


### the system established by regulation no 182 / 2011 has , overall , proven to work well in practice and struck an appropriate institutional balance as regards the roles of the commission and the other actors involved . that system should therefore continue to function unchanged except for certain targeted amendments concerning specific aspects of procedure at the level of the appeal committee . these amendments are intended to ensure wider political accountability and ownership of politically sensitive implementing acts without , however , modifying the legal and institutional responsibilities for implementing acts as organised by regulation no 182 / 2011 . ### the system established by regulation no 182 / 2011 has , overall , proven to work well in practice and struck an appropriate institutional balance as regards the roles of the commission and the other actors involved . that system should therefore continue to function unchanged except for certain targeted amendments concerning specific aspects of procedure at the level of the appeal committee . these amendments are intended to ensure wider political accountability and ownership of politically sensitive implementing acts .


### the provisions of this directive should not prevent member states from setting more ambitious energy performance requirements at building level and for building elements as long as such measures are compatible with union law . it is consistent with the objectives of this directive and of directive 2012 / 27 / ec that these requirements may , in certain circumstances , limit the installation or use of products subject to other applicable union harmonisation legislation , provided that such requirements should not constitute an unjustifiable market barrier . ### the provisions of this directive should not prevent member states from setting more ambitious energy performance requirements at building level and for building elements , particularly in relation to their national renovation plans and approach to fuel poverty , as long as such measures are compatible with union law . it is consistent with the objectives of this directive and of directive 2012 / 27 / ec that these requirements may , in certain circumstances , limit the installation or use of products subject to other applicable union harmonisation legislation , provided that such requirements should not constitute an unjustifiable market barrier .


### member states shall ensure that in all new non - residential buildings and in all existing non - residential buildings undergoing major renovation with more than ten parking spaces , at least one of every ten is equipped with a recharging point within the meaning of directive 2014 / 94 / eu on the deployment of alternative fuels infrastructure17 , which is capable of starting and stopping charging in reaction to price signals . this requirement shall apply to all non - residential buildings , with more than ten parking spaces , as of 1 january 2025 . _________________ 17 oj l 307 , 28 . 10 . 2014 , p . 1 ### member states shall ensure that in all new non - residential buildings and in all existing non - residential buildings with more than ten parking spaces undergoing major renovation related to the electrical infrastructure of the building or the parking lot , at least one of every ten can be connected to the electrical network , which is required for the subsequent installation of a recharging point within the meaning of directive 2014 / 94 / eu on the deployment of alternative fuels infrastructure17 . this requirement shall apply to all non - residential buildings , with more than ten parking spaces , as of 1 january 2025 . _________________ 17 oj l 307 , 28 . 10 . 2014 , p . 1


### member states shall ensure that in all new non - residential buildings and in all existing non - residential buildings undergoing major renovation with more than ten parking spaces , at least one of every ten is equipped with a recharging point within the meaning of directive 2014 / 94 / eu on the deployment of alternative fuels infrastructure 17 , which is capable of starting and stopping charging in reaction to price signals . this requirement shall apply to all non - residential buildings , with more than ten parking spaces , as of 1 january 2025 . _________________ 17 oj l 307 , 28 . 10 . 2014 , p . 1 ### member states shall ensure that in all new non - residential buildings and in all existing non - residential buildings undergoing major renovation with several parking spaces , at least one is equipped with a recharging point within the meaning of directive 2014 / 94 / eu on the deployment of alternative fuels infrastructure17 , which is capable of starting and stopping charging in reaction to price signals . this requirement shall apply to all non - residential buildings , with several parking spaces , as of 1 january 2025 . _________________ 17 oj l 307 , 28 . 10 . 2014 , p . 1


### the power to adopt delegated acts referred to in article 5 , 8 and 22 shall be conferred on the commission for an indeterminate period of time from [ date of the entry into force… ] . ### the power to adopt delegated acts referred to in article 5 , 8 and 22 shall be conferred on the commission for a period of five years from [ date of entry into force . . . ] .


### innovation and new technology also make it possible for buildings to support the overall decarbonisation of the economy . for example , buildings can leverage the development of the infrastructure necessary for the smart charging of electric vehicles also provide a basis for member states , if they choose to , to use car batteries as a source of power . to reflect this aim , the definition of technical building systems should be extended . ### innovation and new technology also make it possible for buildings to support the overall decarbonisation of the economy . for example , buildings can leverage the development of the infrastructure necessary for the smart charging of electric vehicles also provide a basis for member states , if they choose to , to use car batteries as a source of power .


### the notification obligation established by this directive should apply to regulatory measures of member states , such as laws , regulations , administrative provisions of general nature or any other binding rule of general nature , including rules adopted by professional organisations to regulate in a collective manner access to service activities or the exercise thereof . the notification obligation should on the other hand not apply to individual decisions issued by national authorities . ### the notification obligation established by this directive should apply to regulatory measures of member states , such as laws , regulations , administrative provisions of general nature or any other binding rule of general nature , including rules adopted by professional organisations to regulate in a collective manner access to service activities or the exercise thereof . the notification obligation should on the other hand not apply to individual decisions issued by national authorities or professional organisations .