Leaders of the European Union (EU) agreed early Friday to cut greenhouse gas emissions by at least 40 percent by 2030 on the basis of 1990 levels, as part of the EU's newly adopted 2030 climate and energy policy framework at an EU summit.
The framework also requires member states to achieve targets of at least 27 percent of renewable energy in total energy consumption by 2030, plus an increase of at least 27 percent in energy efficiency.
"It sets Europe on an ambitious yet cost-effective climate and energy path. Climate change is one of the biggest challenges of mankind. Ultimately, this is about survival," said European Council President Herman Van Rompuy.
He also said the deal would allow the EU "to bring a positive message to the international climate negotiations -- a message of commitment."
European Commission President Jose Manuel Barroso praised that the deal "is good for Europe's competitiveness because it keeps us on the path towards a low carbon economy and green growth", as well as "vital for our energy security."
But the targets were undeniably compromised as the European Commission initially proposed a new energy saving target of 30 percent by 2030. The 27 percent result is seen as a compromise against the backdrop of oppositions from some of the member states.
Media reports before and during the summit said that some coal-reliant member states held different views towards the framework as they were afraid that it would hurt their economies.
The framework also attached great importance to the establishment of a fully functioning and connected internal energy market. Therefore, the EU decided to take measures to ensure achieving a minimum target of 10 percent of existing electricity interconnections.
Energy security was also highlighted in the framework as the EU urgently hoped to reduce its energy dependence and increase its energy security for both electricity and gas.
Effective means recognized by the EU includes development of indigenous resources as well as safe and sustainable low carbon technologies.
The EU also agreed to establish a reliable and transparent governance system without any unnecessary administrative burden to help ensure that the EU meets its energy policy goals, with the necessary flexibility for member states and fully respecting their freedom to determine their energy mix.