At the European Council's December 2008 summit and with the European Parliament's decision a week later, a political agreement was reached on the Commission's Climate-Energy package of January 2008, which will profoundly shape Europe's climate policy for the next decade. Europe is therefore the first actor in the run up to the global climate negotiations in Copenhagen to come forward with a detailed program confirmed by parliament. Center of attention in the negotiations was the EU's emissions trading system. From 2013 this will be centrally administered by the European Commission and so guarantee the same conditions throughout Europe. In order to get all the member states to agree, however, the French Council presidency had to include numerous derogations in a compromise package: the promised reduction targets were not changed, but the effectiveness of the instruments was weakened. Alongside the Directive on emissions trading a decision was passed that imposes limits on member states' discharge of greenhouse gases in the sectors not covered by the emissions trading regime. These targets are legally binding by 2020. Though only mentioned in passing in the media a Directive on renewable energy was passed that for the first time includes all sectors - that is, electricity generation, transport, and heating / cooling - and also lays down binding national levels by 2020. Alongside these central aspects of future European climate policy outline conditions and financing mechanisms for carbon capture and storage technology and for emissions caps for new cars were legally enshrined. While its final compromise means that the European Union formally retains its leadership role in the campaign against climate change, at the same time it has left a number of losers at various levels. One of them is the European Parliament. Under pressure of time and the member states' entrenchment, MEPs were confronted with a matter of conscience but were severely constrained in bringing to bear their own long nurtured and ambitious position. The developing countries may be regarded as the second losers. They are largely innocent victims of anthropogenic climate change, yet for the most part they are excluded from relief measures within the framework of Western climate policy. The EU heads of state and government denied them financial aid from the emissions trading system and technological support. Despite its flaws, the scope of the compromise package is of enormous significance and its targets are ambitious. Europe is therefore entitled to claim its exemplary role. [ABSTRACT FROM AUTHOR]