Introductory text

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Regulation (EU) No 1293/2013 of the European Parliament and of the Council of 11 December 2013 on the establishment of a Programme for the Environment and Climate Action (LIFE) and repealing Regulation (EC) No 614/2007^f1, and in particular Article 24(1) thereof,

Whereas:

In order to ensure implementation of the LIFE Programme, it is necessary to adopt a multiannual work programme for 2014-17.

In order to set a framework for the implementation of the two LIFE sub-programmes, the multiannual work programme for 2014-17 should specify the indicative allocation of funds between priority areas and types of funding, the project topics implementing the thematic priorities set out in Annex III to Regulation (EU) No 1293/2013, the technical selection methodology for projects, the criteria for the attribution of grants and indicative timetables for the calls for proposals.

The multiannual work programme for 2014-17 should also contain qualitative and quantitative outcomes, indicators and targets for each priority area and type of projects, in accordance with the performance indicators and specific objectives for each priority area, with a view to facilitate the evaluation of the results and impact of the programme. On the basis of ex-ante assessments the Commission identified two innovative financial instruments as appropriate tools for funding projects, in accordance with Article 17(4) of Regulation (EU) No 1293/2013.

Those financial instruments should be trialled throughout the multiannual work programme in order to demonstrate their considerable potential to leverage funding from investors in the field of biodiversity and climate change mitigation and adaptation, thus addressing current financial barriers to the uptake of projects in those areas.

Based on the positive experience with other financial instruments managed by the European Investment Bank (EIB), as well as the geographical coverage of the EIB which enables it to reach potential beneficiaries across the Union, implementation of the Natural Capital Financing Facility and of the Private Financing for Energy Efficiency Instrument, funded through contributions from the LIFE programme, should be entrusted to that institution.

In order to ensure an efficient implementation of the multiannual work programme and as Regulation (EU) No 1293/2013 applies from 1 January 2014, this Decision should apply from the date of the adoption of this Decision.

The measures provided for in this Decision are in accordance with the opinion of the Committee for the LIFE Programme for the Environment and Climate Action established by Article 30 of Regulation (EU) No 1293/2013,

HAS ADOPTED THIS DECISION: