While still debated, the European commission has launched a bold carbon dioxide reduction plan. From New scientist (snippet):

Plans which would make Europe a world leader in tackling climate change and renewable energy policy were released by the European Commission on Wednesday.

The proposal describes how the European Union can reduce its greenhouse gas emissions to 20% below 1990 levels by 2020.

The package has been called “brave” by the Dutch environment agency and has been welcomed by the UK government, which says the package will give industry the secure framework it needs to build a low-carbon economy. (…)

Now don’t start cheering yet. The largest party in parliament (Christian Democrats) responded “they need to study the plans carefully to determine if this is indeed a good plan” that b.t.w. will cost each European citizen approximately 3 Euro’s (a tad over $4) a week. That is jargon for opening the gates for industry lobbyists and governments, who will both desperately try to lower the standard, one reason being “others don’t either”, read US, China, India.