5.6.2009 Official Journal of the European Union L 140/63 DIRECTIVE 2009/29/EC OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 23 April 2009 amending Directive 2003/87/EC so as to improve and extend the greenhouse gas emission allowance trading scheme of the Community (Text with EEA relevance) THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EURO- PEAN UNION, Having regard to the Treaty establishing the European Commu- nity, and in particular Article 175(1) thereof, Having regard to the proposal from the Commission, Having regard to the opinion of the European Economic and Social Committee (1), Having regard to the opinion of the Committee of the Regions (?), Acting in accordance with the procedure laid down in Article 251 of the Treaty (%), Whereas: (1)  Directive 2003/87/EC of the European Parliament and of the Council (*) establishes a scheme for greenhouse gas emission allowance trading within the Community (Com- munity scheme) in order to promote reductions of green- house gas emissions in a cost-effective and economically efficient manner. (2)  The ultimate objective of the United Nations Framework Convention on Climate Change (UNFCCC), which was approved on behalf of the European Community by Coun- cil Decision 94/69/EC (%), is to stabilise greenhouse gas concentrations in the atmosphere at a level that would pre- vent dangerous anthropogenic interference with the cli- mate system. In order to meet that objective, the overall global annual mean surface temperature increase should not exceed 2 °C above pre-industrial levels. The latest Inter- governmental Panel on Climate Change (IPCC) Assessment Report shows that in order to reach that objective, global emissions of greenhouse gases must peak by 2020. This implies the increasing of efforts by the Community, the quick involvement of developed countries and encourag- ing the participation of developing countries in the emis- sion reduction process. (3)  The European Council of March 2007 made a firm com- mitment to reduce the overall greenhouse gas emissions of the Community by at least 20 % below 1990 levels by 2020, and by 30 % provided that other developed (1) 0 C 27, 3.2.2009, p. 66. () 0] C 325, 19.12.2008, p. 19. (%) Opinion of the European Parliament of 17 December 2008 (not yet published in the Official Journal) and Council Decision of 6 April 2009. (*) OJL 275,25.10.2003, p. 32. () OJ L 33,7.2.1994, p. 11. countries commit themselves to comparable emission reductions and economically more advanced developing countries contribute adequately according to their respon- sibilities and respective capabilities. By 2050, global green- house gas emissions should be reduced by at least 50 % below their 1990 levels. All sectors of the economy should contribute to achieving these emission reductions, includ- ing international maritime shipping and aviation. Aviation is contributing to these reductions through its inclusion in the Community scheme. In the event that no international agreement which includes international maritime emis- sions in its reduction targets through the International Maritime Organisation has been approved by the Member States or no such agreement through the UNFCCC has been approved by the Community by 31 December 2011, the Commission should make a proposal to include inter- national maritime emissions according to harmonised modalities in the Community reduction commitment, with the aim of the proposed act entering into force by 2013. Such a proposal should minimise any negative impact on the Community’s competitiveness while taking into account the potential environmental benefits. (4)  Inits resolution of 31 January 2008 on the outcome of the Bali Conference on Climate Change (COP 13 and COP/MOP 3) (), the European Parliament recalled its posi- tion that industrialised countries should commit to reduc- ing their greenhouse gas emissions by at least 30 % by 2020 and by 60 to 80 % by 2050, compared to 1990 lev- els. Given that it anticipates a positive outcome to the COP 15 negotiations that will be held in Copenhagen in 2009, the European Union should begin to prepare tougher emis- sion reduction targets for 2020 and beyond, and should seek to ensure that, after 2013, the Community scheme allows, if necessary, for more stringent emission caps, as part of the Union’s contribution to a future international agreement on climate change (hereinafter referred to as the international agreement on climate change). (5)  In order to contribute to achieving those long-term objec- tives, it is appropriate to set out a predictable path accord- ing to which the emissions of installations covered by the Community scheme should be reduced. To achieve cost- effectively the commitment of the Community to at least a 20 % reduction in greenhouse gas emissions below 1990 levels, emission allowances allocated in respect of those installations should be 21 % below their 2005 emission levels by 2020. () O] C 68 E, 21.3.2009, p. 13.