The Committee of Permanent Representatives (Coreper I) approved today, Friday December 21, the final compromise package, agreed between the Council and the European Parliament on a first reading agreement for a Regulation on a Mechanism for Monitoring and Reporting Green House Gases (MMR). The agreement was the product of the trilogue which took place on December 17, 2012.

The first reading agreement is expected to be officially ratified sometime next year and approved as an “A” item in a future Council. This file was considered a priority by the Cyprus Presidency and the European Commission and the outcome was a product of lengthy and tough negotiations.

Timely and accurate data on greenhouse gas (GHG) emissions is vital for knowing whether the EU and its Member States are on track to meet their emission targets and for developing robust new policies to address the climate challenge.

The proposed new Regulation modifies the existing Decision 280/2004/EC concerning a mechanism for monitoring Community greenhouse gas emissions and implementing the Kyoto Protocol, by enhancing  this monitoring and reporting mechanism in line with the requirements of the 2009 climate and energy package. On some issues it goes a step beyond Kyoto in providing greater transparency in the data and information provided and in ensuring compliance with the EU's climate change commitments.

The main objectives of the proposed Regulation, through the revision of the Decision 280/2004/EC are to:

• facilitate further development of the EU’s innovative climate policy mix by addressing emissions from land use, land use change and forestry, aviation transport, among other sectors as well as through the support of adaptation to climate change;
• help the EU and Member States keep track of progress towards meeting their emission targets for 2013-2020;
• further improve the quality of reported data;
• ensure that the EU and the Member States comply with current and future international monitoring and reporting obligations and commitments. This includes reporting on financial and technical support provided to developing countries, and commitments arising from the 2009 Copenhagen Accord and 2010 Cancún Agreements; and
• put in place operational rules for Member States to report on their use of revenues from the auctioning of allowances in the EU emissions trading system (EU ETS) etc.