European Union Climate & Energy Package Adopted

December 19, 2008
Jacquelyn F. MacLennan, David S. Strelzyk-Herzog

DOWNLOAD PDF: European Union Climate & Energy Package Adopted

In less than one year, the different EU institutions have managed to reach agreement on the Climate Change Package published in January 2008 to combat climate change and improve the EU's energy security and competitiveness. The compromise agreed maintains the initial objectives of the Commission’s proposal and improves the functioning of the ETS by harmonizing the allocation of allowances at EU level, while taking into consideration the important risks of carbon leakage and the impact of the package on EU competitiveness. The next step for the EU will now be to convince international partners such as the US to make similar commitments during the negotiations leading to the Copenhagen meeting in December 2009. Attached is a summary of the legislative package.