BRUSSELS, Oct 30 (Reuters) - European Union leaders agreed an offer on Friday to put on the table at global climate talks in Copenhagen in December. [ID:nLU591798] Here is a summary of what that agreement includes. * The European Union will strengthen planned emissions cuts to 30 percent below 1990 levels by 2020 if a strong deal is reached at Copenhagen, provided other nations take similar steps. * The European Union estimates that the total costs of mitigation and adaptation in developing countries could amount to around 100 billion euros ($148 billion) annually. This will be to be met through a combination of developing countries' own efforts, the international carbon market and international public finance. * The EU estimates the overall level of the international public support required is in the range of 22-50 billion euros per year by 2020, subject to fair burden sharing at the global level. * The EU stresses that "fast-start" international public support is important in the three years before any Copenhagen deal takes effect. Leaders acknowledge a European Commission estimate that developing countries will need 5-7 billion euros per year in the period 2010-2012, after which the agreement is due to kick in. An EU contribution will be determined after the Copenhagen talks. * EU leaders call upon all parties to try to prevent global temperatures from rising beyond 2 degrees Celsius above pre-industrial temperatures. Developed countries should cut emissions to 80-95 percent belwo 1990 levels by 2050. * EU leaders note that an excess of the so-called AAU carbon permits assigned under the Kyoto Protocol must be addressed in a non-discriminatory manner, treating European and non-European countries equally. The handling of the AAU surplus should not affect the environmental integrity of a Copenhagen agreement. (Reporting by Pete Harrison, editing by Anthony Barker)
Hungary's Prime Minister Gordon Bajnai holds a news conference at the end of a European Union heads of state and government summit in Brussels October 30, 2009. REUTERS/Yves Herman (BELGIUM POLITICS ...
Climate change
