EU-U.S. Summit Declaration, 3 November 2009

“... We therefore agree:...

...– To promote an ambitious and comprehensive international climate change agreement in Copenhagen. Together, we will work towards an agreement that will set the world on a path of low-carbon growth and development, aspires to a global goal of a 50% reduction of global emissions by 2050, and reflects the respective mid-term mitigation efforts of all major economies, both developed and emerging...In the context of an ambitious agreement in Copenhagen, we are prepared to work to mobilize substantial financial resources to support adaptation for the most vulnerable and to support enhanced mitigation actions of developing countries. – To strengthen efforts to develop strong and well-functioning carbon markets, which are essential to maximize climate finance and to engage emerging and developing countries is ambitious emissions reduction actions. We will therefore work together to expand carbon markets as we design and implement our cap and trade systems.”