Answer
The standard EU law-making method (former 'co-decision'): the European Parliament and the Council jointly adopt legislation on a Commission proposal. Mechanics in Article 294 TFEU.
💡Used for roughly 85% of EU legislation; Parliament and Council are equal co-legislators.
Consolidated TFEU (EUR-Lex) — eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:12016E/TXT