29 October 2010: The European Council gathering Heads of State and government of the EU met in Brussels, Belgium, on 28-29 October 2010, to discuss, among other issues, preparations for the Cancun Climate Change Conference.

In its conclusions, the European Council underscore the importance for the Cancun Conference to deliver “a significant intermediate step, building on the Kyoto Protocol and paving the way towards a global and comprehensive legally binding framework, integrating the political guidance given in the Copenhagen Accord.” The European Council confirms the willingness of the EU to consider a second commitment period under the Kyoto Protocol provided certain conditions are met, and the submission of a comprehensive and transparent report on the implementation of the EU commitment on fast-start financing in Cancun and yearly thereafter. It also commits to reassess options to move beyond a 20% greenhouse gas (GHG) emission reductions target for the EU after the Cancun Conference.

The European Council finally notes that, in parallel with seeking an international agreement, the EU will also develop a more diversified approach to engaging with key partners in areas of mutual interest that help them reduce their emissions, encouraging regional initiatives to tackle climate change and promote green growth such as the Mediterranean Initiative on Climate Change. [European Council’s Conclusions] [Climate-L story on Mediterranean Initiative]