17.6.2014 Official Journal of the European Union L177/9 REGULATIONS COUNCIL REGULATION (EU) No 642/2014 of 16 June 2014 establishing the Shift2Rail Joint Undertaking THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty on the Functioning of the European Union, and in particular Article 187 and the first para- graph of Article 188 thereof, Having regard to the proposal from the European Commission, Having regard to the opinion of the European Parliament (Y), Having regard to the opinion of the European Economic and Social Committee (3), Whereas: (1) The Europe 2020 Strategy: A strategy for smart, sustainable and inclusive growth’ underscores the need to develop favourable conditions for investment in knowledge and innovation, including eco-innovation, so as to achieve smart, sustainable and inclusive growth in the Union. (2)  The Commission White Paper on a Roadmap to a Single European Transport Area, of 28 March 2011 (the ‘White Paper’), emphasised the need to create a Single European Railway Area to achieve a more competitive and resource-efficient Union transport system, and to address major societal issues such as rising traffic demand, congestion, security of energy supply and climate change. It added that innovation will be essential for this strategy and that Union research needs to address the full cycle of research, innovation and deployment in an integrated way through focusing on the most promising technologies and bringing together all actors involved. (3)  The Framework Programme for Research and Innovation 2014-2020 (Horizon 2020’) established by Regulation (EU) No 1291/2013 of the European Parliament and of the Council () aims to achieve a greater impact of research and innovation efforts by combining Union and private-sector funds in public-private partnerships (PPPs) in areas where research and innovation can contribute to the Union’s wider competitiveness goals, leverage private investment, and help tackle societal challenges. Those partnerships should be based on a long-term commitment, including a balanced contribution from all partners, be accountable for the achievement of their objectives and be aligned with the Union’s strategic goals relating to research, development and innovation. The governance and functioning of those partnerships should be open, transparent, effective and efficient and give the opportunity to a wide range of stakeholders active in their specific areas to participate. Union involvement in these partnerships can take the form of financial contributions to joint undertakings established on the basis of Article 187 of the Treaty on the Functioning of the European Union (TFEU). (4)  In accordance with Regulation (EU) No 1291/2013 and Council Decision 2013/743/EU (*) support may be provided to joint undertakings established pursuant to Horizon 2020 under the conditions specified in that Deci- sion. (") Opinion of 25 March 2014 (not yet published in the Official Journal). (*) Opinion of 15 April 2014 (not yet published in the Official Journal). () Regulation (EU) No 1291/2013 of the European Parliament and of the Council of 11 December 2013 establishing Horizon 2020 — the Framework Programme for Research and Innovation for the period 2014-2020 and repealing Decision No 1982/2006/EC (O] L 347, 20.12.2013, p. 104). (*) Council Decigon 2013/743(EU of 3 December 2013 establishing the specific programme implementing Horizon 2020 — the Frame- work Programme for Research and Innovation (2014-2020) and repealing Decisions 2006/971/EC, 2006/972[EC, 2006/973[EC, 2006/974]EC and 2006/975/EC (OJ L 347, 20.12.2013, p. 965).