Ready to help developing countries

Nearly two and a half billion euros a year from 2010 to 2012, that is the amount the EU December summit agreed to allocate to developing countries to help them fight climate change. With this commitment, heads of state and government are sending a strong message to the negotiators at the Copenhagen Climate Conference.

Fredrik Reinfeldt, Prime Minister of Sweden,
who chaired the summit on 10 and 11 December 2009
Photo: Council of the European Union

All 27 member states pledged a contribution to the fast-start funding, providing their fair share of international support to developing countries' efforts to reduce emissions. The European Council furthermore underlined the need for a significant increase in public and private financing until 2020. The EU has offered to move to a 30% reduction in emissions by 2020, if other developed countries make similar efforts. The Union is devoted to reaching a global, comprehensive and ambitious Copenhagen Agreement.

The leaders also discussed the economic, financial and employment situation. As regards the new global arrangements for financial markets, the European Council encouraged the International Monetary Fund to consider a full range of options in its review, including insurance fees and a global financial transaction levy.

Next year will see the launch of an EU 2020 strategy, a new agenda to improve competitiveness and increase the Union's sustainable growth potential. Following up on the 10-year Lisbon strategy, it will take into account challenges such as the economic and social impact of the crisis, ageing populations and climate change. Consultation on the future strategy is underway, and leaders look forward to discussing a proposal at their 2010 spring summit.

In the area of freedom, security and justice, the European Council adopted the Stockholm Programme for the years 2010 to 2014. The emphasis will be on respect for fundamental rights and freedoms while guaranteeing security in Europe.

More information:
European Council conclusions 
Press conference webcast