L 84/38 Official Journal of the European Union 20.3.2014 REGULATION (EU) No 253/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 26 February 2014 amending Regulation (EU) No 510/2011 to define the modalities for reaching the 2020 target to reduce CO, emissions from new light commercial vehicles (Text with EEA relevance) THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty on the Functioning of the European Union, and in particular Article 192(1) thereof, Having regard to the proposal from the European Commission, After transmission of the draft legislative act to the national parliaments, Having regard to the opinion of the European Economic and Social Committee (1), After consulting the Committee of the Regions, Acting in accordance with the ordinary legislative procedure (2), Whereas: (1)  Pursuant to Article 13(1) of Regulation (EU) No 510/2011 of the European Parliament and of the Coun- cil () the Commission is, subject to confirmation of its feasibility, to review the modalities of achieving the 147 g CO,/km target by 2020, including the formulae set out in Annex I to that Regulation and the derogations provided for in Article 11 thereof. It is appropriate that this Regulation be as neutral as possible from the point of view of competition, socially equitable and sustainable. 2)  In view of the link between CO, emissions and fuel consumption, defining modalities for reducing CO, emissions from light commercial vehicles could also contribute to reducing fuel consumption and related costs for owners of such vehicles in a cost-effective manner. () O] C 44, 15.2.2013, p. 109. (®) Position of the European Parliament of 14 January 2014 (not yet published in the Official Journal) and decision of the Council of 11 February 2014. (®) Regulation (EU) No 510/2011 of the European Parliament and of the Council of 11 May 2011 setting emission performance standards for new light commercial vehicles as part of the Union’s integrated approach to reduce CO, emissions from light-duty vehicles (O] L 145, 31.5.2011, p. 1). (3) It is appropriate to clarify that, for the purpose of verifying compliance with the target of 147 g CO,/km, CO, emissions should continue to be measured in accordance with Regulation (EC) No 715/2007 of the European Parliament and of the Council (*) and its imple- menting measures, and innovative technologies. (4)  According to the technical analysis carried out for the impact assessment, the technologies needed to meet the target of 147 g CO,/km are available and the required reductions can be achieved at a lower cost than estimated in the previous technical analysis carried out prior to the adoption of Regulation (EU) No 510/2011. In addition, the distance between the current average specific emissions of CO, from new light commercial vehicles and the target of 147 g CO,/km has also decreased. Therefore, the feasibility of reaching that target by 2020 has been confirmed. (5)  In recognition of the disproportionate impact on the smallest manufacturers resulting from compliance with the specific emissions targets defined on the basis of the utility of the wvehicle, the high administrative burden of the derogation procedure, and the marginal resulting benefit in terms of CO, emissions reduction from the vehicles sold by those manufacturers, manufac- turers responsible for fewer than 1000 new light commercial vehicles registered in the Union annually should be excluded from the scope of the specific emissions target and the excess emissions premium. (6)  The procedure for granting a derogation to small-volume manufacturers should be simplified to allow for more flexibility in terms of when an application for a dero- gation is to be submitted by such manufacturers and when the Commission is to grant such a derogation. (7)  To enable the automotive industry to engage in long- term investment and innovation, it is desirable to provide indications as to how Regulation (EU) No 510/2011 should be amended for the period beyond 2020. Those indications should be based on an assessment of the necessary rate of reduction in line with the Union’s long-term climate goals and the impli- cations for the development of cost effective CO,- reducing technology for light commercial vehicles. The Commission should, by 2015, review such aspects and submit a report to the European Parliament and to the Council on its findings. That report should include, (% Regulation (EC) No 715/2007 of the European Parliament and of the Council of 20 June 2007 on type-approval of motor vehicles with respect to emissions from light passenger and commercial vehicles (Euro 5 and Euro 6) and on access to vehicle repair and maintenance information (O] L 171, 29.6.2007, p. 1).