Translation of "Mise en réserve de droits d'émissions " (French → English) :

16. Recognises that in order to have a 50:50 chance of maintaining climate change at +2C, industrialised-country emissions need to be reduced by at least 80-95% by 2050 as against 1990 levels; underlines the specific responsibility of developed countries to take the lead in reducing emissions, and takes the view that aggregate reductions by industrialised countries at the high end of the 25-40% range recommended by Intergovernmental Panel on Climate Change by 2020 are necessary; considers, in this context, that all industrialised countries need to adopt targets that require ambitious reductions in current emission levels and that banking of surplus Assign ...[+++]ed Amount Units from the 2008-2012 period should not be allowed, as this would seriously undermine the environmental effectiveness of an international climate agreement; calls on Russia to play an active role in future international negotiations and to facilitate a swift agreement in Copenhagen;

4. Germany may by a declaration reserve its right to make the execution of an EEW subject to verification of double criminality in cases referred to in Article 14(2) relating to terrorism, computer-related crime, racism and xenophobia, sabotage, racketeering and extortion or swindling if it is necessary to carry out a search or seizure for the execution of the EEW, except where the issuing authority has declared that the offence concerned under the law of the issuing State falls within the scope of criteria indicated in the declaration.

This is the case for all actions the performance of which requires specialised knowledge or local expertise (e.g. national differences as regards the treatment of interests in securities held with an intermediary, corporate actions, securities issuance practices, etc) or when local participation is actually imposed (e.g., by Member States' rules that give withholding tax responsibilities exclusively to local intermediaries).

The main innovation is the creation of a procedure for pooling allowances (Article 28), according to which Member States may allow operators of installations to pool their emission allowances and appoint a trustee to be responsible for the annual distribution of emission allowances, who will be subject to the penalties applicable for non-compliance.

(2) In order to facilitate the application of such a policy in the wine sector, and pending implementation of the system of reserves of planting rights, provision should be made for the possibility of new planting rights awarded to young farmers to be eligible, on a temporary basis, for the restructuring aid scheme introduced by Regulation (EC) No 1493/1999(4).

Differences in the administrative systems between the Community and the USA create some uncertainties about the details of the averaging and banking systems; the Commission will review the details of the included averaging and banking systems and, where necessary, propose changes or amendments before the scheduled date of entry into force.