European leaders have shaped a climate change pact obliging the European Union (EU) to cut greenhouse gas emissions by a minimum of 40 percent by 2030. Also agreed upon are the targets of a 27 percent renewable energy market share, and an optional 27 percent increase in energy efficiency improvement. The foundation of the agreement is in line with the policy framework for climate and energy, proposed by the European Commission in January 2014.

“We managed to reach a fair decision that sets the EU on an ambitious but cost-effective climate path,” said Herman Van Rompuy, president of the European Council. Presently, the EU is on track to meet its goal of cutting greenhouse gas emissions by 20 percent by 2020, in relation to 1990 levels.

EU Climate Commissioner Connie Hedegaard said, “We have sent a strong signal to other big economies and all other countries: we have done our homework, now we urge you to follow Europe’s example.” Members of the EU are also part of the negotiations of a new global climate change agreement to be announced at the 21st Conference of Parties to the United Nations framework Convention on Climate Change (UNFCCC) to be held in Paris (France) in 2015.

For more information, visit the UNFCCC Newsroom website.