"EU Agrees on 40% Carbon-Reduction Pledge for UN Climate Summit"

"The European Union agreed to submit the goal of cutting greenhouse gases by at least 40 percent from 1990 levels by 2030 to a global climate conference in a bid to retain its leading role in the battle against global warming.

The contribution, agreed on by ministers from the 28-nation bloc at a meeting in Brussels Friday, will be the second sent to the United Nations climate body after Switzerland. Envoys from more than 190 countries aim to reach an accord in December that would for the first time impose pollution limits on both developed and developing countries.

'This is the first time in the European history that we have such an ambitious agreement on climate that involves all the sectors of the economy,' French Environment Minister Segolene Royal, whose country will host the conference, said on the margins of the gathering. 'European countries have taken their responsibility. I hope others will follow suit.'"

Ewa Krukowska and Alessandro Vitelli report for Bloomberg March 6, 2015.