In order to attain independence from fossil fuels, the EU is planning to accelerate the development and introduction of various low carbon technologies with the help of the European Strategic Energy Technology Plan (“SET-Plan”). The Commission substantiates the strategic and technological targets, the planned measures and an estimation of how much private and public investment will be required for the research and development of low carbon technologies until 2020.

Both the EU and the USA are currently debating how to design derivatives markets in a more transparent and panic-proof manner. Similar to the USA the EU Commission proposes to improve the collateralisation of derivatives transactions and to standardise the OTC trading through central counter party (CCP) clearing to be located in the EU.

When Euro notes and coins were introduced on January 1st 2002, this created a single payments area for cash transactions. For cashless payments like credit transfers, direct debits and card payments a Single Euro Payments Area (SEPA) is currently being developed. In its communication the Commission presents the next measures that have to be taken by market participants in the period from 2009-2012 in order to ensure successful implementation of the SEPA-project. The Commission hints that by this amongst others it understands the full replacement of all established national payment schemes with SEPA-Schemes.

Without financial support for developing countries, it is likely that no global climate agreement will be reached. The Commission presents criteria for how these payments should be distributed among developed countries. Further the Commission discusses whether the share of the EU should be financed through the EU budget, a common EU climate fund or using the budgets of Member States.

Following the October 2008 amendments of the Capital Requirements Directive a new amendment has been proposed once again. This time the capital requirements for the trading book and for re-securitisations are raised and the remuneration models of banks are reviewed.

The Commission is planning to increase Europeana’s collection by 10 million objects by 2010. To this end, it calls Member States to contribute to a “sustained digitisation“.

The proposed Regulation is to replace the existing Directive on the security of gas supply. The Proposal contains obligations of the Member States with respect to their infrastructure and the establishment of emergency plans. In times of crisis the Commission is to coordinate the gas supply.

In line with the roadmap for equality between women and men (2006-2010) [COM(2006) 92] the Commission has obliged itself to assess all rules on gender equality and the reconciliation of family life and work. Since the provisions on parental leave are based on a Framework Agreement, the Commission asked the social partners to revise it. The revised version of it is to be given legal effect now.

With its Communication the Commission is preparing the ground for a White Paper to be submitted next year on transport policy from 2010 to 2020. Since structural changes in transport policy require long-term implementation periods, the Commission is already planning for the period up till 2060.