text: 69 See Common framework and guidance documents for biodiversity proofing of the EU budget. 
  70 The cost estimate is based on the 2018 Impact Assessment of the LIFE Regulation (SWD(2018) 292), a 
  Study on the costs of implementing the Target 2 of the EU Biodiversity Strategy to 2020 and data 
  submitted by 16 Member States under Article 8(1) of the Habitats Directive. The Commission will 
  update the estimate, notably based on Member States’ Prioritised Action Frameworks under the 
  Habitats Directive. 
  71 Including the Common Agricultural Policy, Cohesion Policy funds, Horizon Europe, the European 
  Maritime and Fisheries Fund, LIFE and external action funds. 
  
  72 See EU taxonomy for sustainable activities. 
  73 World Wildlife Fund (2019), The Nature of Risk – A Framework for Understanding Nature-Related 
  Risk to Business. 
  
  17 