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EU leaders focus on climate deal EU leaders reach new climate deal
(20 minutes later)
European Union leaders are said to be close to a compromise agreement in Brussels on how to achieve ambitious targets to fight global warming. European Union leaders have reached a deal on a package of measures to fight global warming, diplomats say.
They are trying to agree a mechanism to cut EU carbon emissions by 20% by 2020. The two-day summit in Brussels was trying to agree a mechanism to cut EU carbon emissions by 20% by 2020.
Environmental groups have reacted angrily, criticising EU proposals on emissions trading which have emerged. Environmental groups had earlier reacted angrily to proposals which had emerged on emissions trading.
Scientists say carbon dioxide emissions need to be cut by 25-40% by 2020 for there to be a reasonable chance of avoiding dangerous climate change.Scientists say carbon dioxide emissions need to be cut by 25-40% by 2020 for there to be a reasonable chance of avoiding dangerous climate change.
The impact of the financial crisis is undermining the EU's long-term goal to build a new, low carbon economy.The impact of the financial crisis is undermining the EU's long-term goal to build a new, low carbon economy.
BBC environmental analyst Roger Harrabin says the repercussions will make it much harder for the EU to achieve the 30% emissions cut it has promised if the rest of the world agrees to the new UN climate deal next year.BBC environmental analyst Roger Harrabin says the repercussions will make it much harder for the EU to achieve the 30% emissions cut it has promised if the rest of the world agrees to the new UN climate deal next year.
Concessions EU leaders also agreed an economy recovery package, and concessions to enable the Irish Republic to hold a second referendum on the Lisbon Treaty.
Arriving at the summit venue on Friday, German Chancellor Angela Merkel told reporters she was "optimistic" about the climate package. 'Embarrassment'
Danish Prime Minister Anders Fogh Rasmussen said it was the hardest EU summit he had attended since the enlargement summit in 2002 - and that he had brought an extra shirt for Saturday. EU leaders have been discussing the so-called "20/20/20" package to tackle climate change and concessions to limit its impact on struggling industries.
At the end of the first day, EU leaders moved closer towards agreement on the so-called "20-20-20" package to tackle climate change after concessions were made to limit its impact on struggling industries. EU 20-20-20 TARGETS 20% cut in greenhouse gas emissions by 202020% increase in use of renewable energy by 202020% cut in energy consumption through improved energy efficiency by 2020 class="" href="http://news.bbc.co.uk/1/hi/sci/tech/portal/climate_change/default.stm">In depth: Climate change class="" href="/1/hi/world/europe/7765094.stm">EU climate package explained class="" href="/1/hi/world/americas/7779297.stm">California adopts emissions plan class="" href="/1/hi/uk_politics/7779023.stm">Brown hails EU recovery package
Some EU countries want auctions of pollution permits delayed
The measures, which also require approval by the European Parliament to become law, would commit the EU to cutting carbon dioxide (CO2) emissions by 20% by 2020, compared to 1990 levels, and to raising renewable sources to 20% of total energy use.The measures, which also require approval by the European Parliament to become law, would commit the EU to cutting carbon dioxide (CO2) emissions by 20% by 2020, compared to 1990 levels, and to raising renewable sources to 20% of total energy use.
The talks are going on concurrently with a UN climate conference in Poznan, Poland, where former US presidential candidate John Kerry said the United States was set to lead the world towards a new climate deal. The Brussels talks are going on concurrently with a UN climate conference in Poznan, Poland, where former US presidential candidate John Kerry said the United States was set to lead the world towards a new climate deal.
Mr Kerry, who is representing President-elect Barack Obama, said the aim of agreeing a deal by next year had to remain on track.Mr Kerry, who is representing President-elect Barack Obama, said the aim of agreeing a deal by next year had to remain on track.
'Heading for compromise' Environmental groups at the Poznan conference have reacted angrily to what they see as unacceptable watering down in draft final EU texts.
The BBC's Jonny Dymond, in Brussels, says an EU deal seems to be coming, but there were some very long faces as the summit broke up on Thursday night.
EU 20-20-20 TARGETS 20% cut in greenhouse gas emissions by 202020% increase in use of renewable energy by 202020% cut in energy consumption through improved energy efficiency by 2020 In depth: Climate changeEU climate package explainedCalifornia adopts emissions planBrown hails EU recovery package
There is concern in some quarters that the compromise proposed has led to the overall aim of the package being undermined.
East European nations will be handed extra carbon credits free of charge, and industries in western Europe will get huge sweeteners which reduce the cost of cutting emissions - but there are still disputes over how many credits and to how many industries.
What is more, billions of pounds will be lost from green good causes because governments will auction fewer permits, so raising less cash. And the carbon price will be depressed because so many free credits have been offered - this will act as a deterrent for firms to invest in clean technology.
Speaking off the record, a UK source said they were very unhappy with the current proposals, and too much had been given away - particularly to German industry.
Another contentious area is the EU's plan to allow countries to buy cheap carbon credits from poor nations rather than cutting emissions at home.
If we fail to reach an agreement at this summit, it will be disastrous for climate negotiations next year Danish PM Anders Fogh Rasmussen Send us your comments
Environmental groups at the Poznan conference have reacted angrily to what they see as unacceptable watering down in draft final texts.
"The deal would allow EU countries to buy so many credits outside Europe that they would only have to reduce their own emissions by about 4% by 2020 (from current levels)," said Stephan Singer from the European policy office of environmental group WWF."The deal would allow EU countries to buy so many credits outside Europe that they would only have to reduce their own emissions by about 4% by 2020 (from current levels)," said Stephan Singer from the European policy office of environmental group WWF.
"That is close to nothing, an embarrassment," he said."That is close to nothing, an embarrassment," he said.
Economy deal 'agreed'
Also discussed at Thursday's meeting was the EU's proposed 200bn-euro (£175bn) fiscal stimulus, equivalent to 1.5% of the bloc's projected gross domestic product (GDP).
Belgian Prime Minister Yves Leterme said a deal had been agreed "in principle" and that EU leaders would finalise a text on Friday.
Italy's Prime Minister Silvio Berlusconi also said a broad agreement had been reached.
The proposed package would seek to boost employment and growth, and would involve everything from tax cuts to investment strategies, while taking account of differences between the economies of each member state.
EU members have also backed a series of concessions to the Irish Republic enabling it to hold a second referendum on the Lisbon reform treaty.