Which European institution is composed of 47 member states?

The Council of Europe is indeed composed of 47 member states and plays a crucial role in promoting human rights, democracy, and the rule of law across the continent. Established in 1949, its mission extends beyond the European Union context, encompassing a wider geographical area that includes non-EU countries.

In contrast, the European Union is a political and economic union of 27 member states, primarily focused on regional integration and creating a single market. The European Economic Area includes EU members along with some non-EU countries (Iceland, Liechtenstein, and Norway) but does not account for the same breadth of member states as the Council of Europe. The European Parliament is the legislative body of the European Union, and it consists of Members of the European Parliament from EU member states, which does not reflect the larger count of 47. Thus, the Council of Europe is the correct answer due to its structure and membership.