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Adjustments applicable upon the approval by the Community of an international agreement on climate change

1. Within three months of the signature by the Community of an international agreement on climate change leading, by 2020, to mandatory reductions of greenhouse gas emissions exceeding 20 % compared to 1990 levels, as reflected in the 30 % reduction commitment as endorsed by the European Council of March 2007, the Commission shall submit a report assessing, in particular, the following elements:

(a) the nature of the measures agreed upon in the framework of the international negotiations, as well as the commitments made by other developed countries to comparable emission reductions to those of the Community and the commitments made by economically more advanced developing countries to contributing adequately according to their responsibilities and respective capabilities;

(b) the implications of the international agreement on climate change, and consequently, options required at Community level, in order to move to the 30 % reduction target in a balanced, transparent and equitable way, taking into account work under the Kyoto Protocol’s first commitment period;

(c) the Community manufacturing industries’ competitiveness in the context of carbon leakage risks;

(d) the impact of the international agreement on climate change on other Community economic sectors;

(e) the impact on the Community agriculture sector, including carbon leakage risks;

(f) the appropriate modalities for including emissions and removals related to land use, land use change and forestry in the Community;

(g) afforestation, reforestation, avoided deforestation and forest degradation in third countries in the event of the establishment of any internationally recognised system in this context;

(h) the need for additional Community policies and measures in view of the greenhouse gas emission reduction commitments of the Community and of Member States.

2. On the basis of the report referred to in paragraph 1, the Commission shall, if appropriate, submit a legislative proposal to the European Parliament and to the Council amending this Decision pursuant to paragraph 1, with a view to the amending act entering into force upon the approval by the Community of the international agreement on climate change and in view of the emission reduction commitment to be implemented under that agreement. The proposal shall be based upon the principles of transparency, economic efficiency and cost-effectiveness, as well as fairness and solidarity in the distribution of efforts between Member States.

3. The proposal shall allow, as appropriate, Member States to use, in addition to the credits provided for in this Decision, CERs, ERUs or other approved credits from projects in third countries which have ratified the international agreement on climate change.

4. The proposal shall also include, as appropriate, measures to allow for Member States to use the unused part of the additional usable quantity referred to in paragraph 3 in the subsequent years or transfer the unused part of that quantity to another Member State.

5. The proposal shall also include, as appropriate, any other measures needed to help reach the mandatory reductions in accordance with paragraph 1 in a transparent, balanced and equitable way and, in particular, shall include implementing measures to provide for the use by Member States of additional types of project credits or of other mechanisms created under the international agreement on climate change, as appropriate.

6. On the basis of rules agreed as part of an international agreement on climate change, the Commission shall propose to include emissions and removals related to land use, land use change and forestry in the Community reduction commitment, as appropriate, according to harmonised modalities ensuring permanence and the environmental integrity of the contribution of land use, land use change and forestry as well as accurate monitoring and accounting. The Commission shall assess whether the distribution of individual Member States’ efforts should be adjusted accordingly.

7. The proposal shall include the appropriate transitional and suspensive measures pending the entry into force of the international agreement on climate change.