18.6.2013 Official Journal of the European Union L 165/13 REGULATION (EU) No 525/2013 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 21 May 2013 on a mechanism for monitoring and reporting greenhouse gas emissions and for reporting other information at national and Union level relevant to climate change and repealing Decision No 280/2004/EC (Text with EEA relevance) THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty on the Functioning of the European Union, and in particular Article 192(1) thereof, Having regard to the proposal from the European Commission, After transmission of the draft legislative act to the national parliaments, Having regard to the opinion of the European Economic and Social Committee (1), Having regard to the opinion of the Committee of the Regions (3), Acting in accordance with the ordinary legislative procedure (%), Whereas: (1)  Decision No 280/2004/EC of the European Parliament and of the Council of 11 February 2004 concerning a mechanism for monitoring Community greenhouse gas emissions and for implementing the Kyoto Protocol (¥) established a framework for monitoring anthropogenic greenhouse gas emissions by sources and greenhouse gas removals by sinks, evaluating progress towards meeting commitments in respect of those emissions and  implementing  monitoring and  reporting requirements under the United Nations Framework Convention on Climate Change (UNFCCC) (°) and the Kyoto Protocol (°) in the Union. In order to take into account recent and future developments at international level relating to the UNFCCC and the Kyoto Protocol, (") OJ C 181, 21.6.2012, p. 169. (3 O] C 277, 13.9.2012, p. 51. (°) Position of the European Parliament of 12 March 2013 (not yet published in the Official Journal) and decision of the Council of 22 April 2013. (% OJ L 49, 19.2.2004, p. 1. (’) Council Decision 94/69/EC of 15 December 1993 concerning the conclusion of the United Nations Framework Convention on Climate Change (O] L 33, 7.2.1994, p. 11). (°) Council Decision 2002/358/EC of 25 April 2002 concerning the approval, on behalf of the European Community, of the Kyoto Protocol to the United Nations Framework Convention on Climate Change and the joint fulfilment of commitments thereunder (O] L 130, 15.5.2002, p. 1). and in order to implement new monitoring and reporting requirements provided for in Union law, Decision No 280/2004/EC should be replaced. Decision No 280/2004/EC should be replaced by a Regu- lation on account of the broader scope of Union law, the inclusion of additional categories of persons to which obligations are addressed, the more complex and highly technical nature of provisions introduced, the increased need for uniform rules applicable throughout the Union, and in order to facilitate implementation. The ultimate objective of the UNFCCC is to stabilise greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous anthropogenic inter- ference with the climate system. In order to meet that objective, the overall global annual mean surface temperature increase should not exceed 2 °C above pre- industrial levels. There is a need for thorough monitoring and reporting, and for regular assessment of Union and Member States’ greenhouse gas emissions and of their efforts to address climate change. Decision 1/CP.15 of the Conference of the Parties to the UNFCCC (Decision 1/CP.15) and Decision 1/CP.16 of the Conference of the Parties to the UNFCCC (Decision 1/CP.16) contributed significantly to progress in addressing the challenges raised by climate change in a balanced manner. Those Decisions introduced new moni- toring and reporting requirements that apply to the implementation of ambitious emission reductions to which the Union and its Member States have committed themselves, and provided support to developing countries. Those Decisions also recognised the importance of addressing adaptation with the same priority as mitigation. Decision 1/CP.16 also requires that developed countries develop low-carbon development strategies or plans. Such strategies or plans are expected to contribute towards building a low-carbon society and ensure continued high growth and sustainable development, as well as moving in a cost- effective manner towards the long-term climate target, giving due consideration to the intermediary stages. This Regulation should facilitate the implementation of those monitoring and reporting requirements.