The European Commission, Directorate-General for Regional and Urban Policy (DG REGIO) launches an evaluation study to assess the investment support provided in 2014-2020 by the European Regional Development Fund (ERDF) and the Cohesion Fund (CF) to the following areas: transition to low-carbon economy, adaptation to climate change, and protection of the environment. This study will assess rationale of the ERDF and CF investments and the evidence of their effectiveness, efficiency and impact, their coherence with other policies, their relevance and the EU added value. It will seek to identify factors contributing to the success or failure of these investments under different socio-economic conditions, good practice and the investments’ contribution to meeting the relevant objectives of cohesion policy, as well as to the green transition in general.