The Commission (acting on behalf of the European Union and its Member States) and Iceland today completed the negotiations necessary for the joint fulfilment of the second commitment period of the Kyoto Protocol. This step was reached in a meeting at senior official level.
The next step will be a decision on the signing of the agreement, which is currently being finalised in the Council of the European Union. Once this decision is formally adopted, the European Union, all Member States and Iceland can proceed to the formal signature of the joint fulfilment agreement.
The EU, its Member States and Iceland have committed to jointly achieve a 20% reduction in their combined greenhouse gas emissions for the period 2013-2020 compared to the level in 1990 or their chosen base year.
Since Iceland is not an EU Member State, the terms of joint fulfilment concerning its participation had to be laid down in a separate international agreement.
Today's procedure marks an important step towards completing the ratification of the joint commitment of the second phase of the Kyoto Protocol by the EU, its Member States and Iceland, in order to enable its entry into force as a legally-binding commitment at international level.
The second phase of the Kyoto Protocol serves as a bridge towards a post-2020 global climate change agreement, applicable to all countries.