From December 7 all eyes will be on Copenhagen as the world's leaders try to come up with a post-2012 deal to mitigate climate change. Parliament is urging delegates to reach an ambitious, binding deal. The EU has already adopted its unconditional "20/20/20 by 2020" Climate Package, promising to boost its CO2 reduction to 30% if other industrialised nations follow suit. Coupled with the Energy Efficiency Package it will further help to slow down global warming.

This regularly updated dossier will provide news related to the COP15 Climate Conference. Climate financing, technology transfer, carbon trading market and "hot air" will all be on the negotiating table in COP15. Will developed countries turn their pledges into legally binding commitments and emerging economies will undertake their responsibilities?

In December 2008, the EP gave its backing to the EU's Climate Package which aims to ensure that the EU will achieve its ambitious climate targets: a 20% reduction in greenhouse gas emissions, a 20% improvement in energy efficiency, and a 20% share for renewables in the overall EU energy consumption by 2020. The objective of the "Energy Efficiency Package" is to mobilise EU policy makers and market actors to make buildings, appliances, means of transport and energy systems more energy efficient. In a resolution adopted last week, MEPs called upon the EU to lead the fight for climate protection. It urges an ambitious and legally binding agreement with funding commitments, emission reduction targets for developed and developing countries and sanctions for non-compliance. The EP also called for emission reductions in the developed world to be at the high end of the 25-40% range by 2020, with a long-term reduction target of at least 80% by 2050 compared to 1990. Emerging economies China, India and Brazil must aim for similar targets, with developing countries as a group limiting their emission growth to 15-30% below "business as usual".

Read on to learn about the ambitious targets EP is advocating and expectations for the upcoming Climate Conference.

Source: http://www.europarl.europa.eu/news/public/focus_page/064-65646-334-11-49-911-20091130FCS65642-30-11-2009-2009/default_lv.htm