5. The Commission shall regularly monitor and report on mainstreaming of climate and biodiversity objectives, including the amount of expenditure. While taking into account the demand-driven nature of the LIFE programme, 61 % of the overall amount of the LIFE Programme as defined in Article 5 is expected to contribute to the budget-wide target of at least 30 % of expenditure contributing to climate objectives. This contribution shall be tracked through the Union climate marker system. This Regulation shall contribute to mainstreaming biodiversity action in the Union's policies and to the achievement of the overall ambition of providing 7,5 % of annual spending under the multiannual financial framework to biodiversity objectives in 2024 and 10 % of annual spending under the multiannual financial framework to biodiversity objectives in 2026 and in 2027, while considering the existing overlaps between climate and biodiversity goals.
Biodiversity-related spending shall be tracked using an effective, transparent and comprehensive methodology to be set out by the Commission, in cooperation with the European Parliament and with the Council, as referred to in the Interinstitutional Agreement of 16 December 2020 between the European Parliament, the Council of the European Union and the European Commission on budgetary discipline, on cooperation in budgetary matters and on sound financial management, as well as on new own resources, including a roadmap towards the introduction of new own resources. Those tracking methods shall be used to quantify the commitment appropriations expected to contribute respectively to climate and to biodiversity objectives over the multiannual financial framework for 2021-2027 at the appropriate level of disaggregation. The spending shall be presented annually in the Programme Statement. The contribution of the LIFE Programme to Union climate and biodiversity objectives shall be reported regularly in the context of evaluations and the annual report.