3.5. COSAC supports the creation of efficient mechanisms to regulateand control financial markets in order to avoid a similar crisis in thefuture.4. The Climate challenge – preparing for Cancun
4.1. COSAC takes note of the conclusions of the European CouncilMeeting on 25-26 March 2010, and reiterates the conclusions of itsXLII meeting held in Stockholm on 5-6 October 2009 regarding theClimate challenge – the road to Copenhagen.4.2. COSAC thus urges the EU institutions to play a proactive part inpreparing the next UN Climate ConferenceCOP16in Cancun,Mexico on 29 November 2010 to 10 December 2010. The mainobjective remains to reach a global and comprehensive legalagreement with the objective of keeping the increase intemperature below 2� C compared to preindustrial levels.5. The institutional framework
5.1. At its first ordinary meeting to be held after the entry into force ofthe Treaty of Lisbon, COSAC congratulates Mr. Herman VanRompuy on his appointment as President of the EuropeanCouncil, and Baroness Catherine Ashton on her appointment asHigh Representative of the European Union for Foreign Affairs andSecurity Policy and Vice-President of the European Commission.5.2. COSAC hopes that the Treaty of Lisbon will live up to its fullpotential and that the appointment of Baroness Ashton will bringabout an effective common foreign and security policy, with thesupport of the European External Action Service that should beoperative as soon as possible.5.3. Given the special nature of this policy area, COSAC underlinesthe fundamental role of national Parliaments in the parliamentaryscrutiny of the common foreign and security policy as well as thecommon security and defence policy.5.4. COSAC supports the EU’s accession to the European Conventionfor the Protection of Human Rights and Fundamental Freedoms,as established in Article 6 of the Treaty on European Union, andcalls for the negotiations leading to its accession to be completedsoon. These negotiations should eventually ensure that theEuropean Union may submit written comments and take part inhearings when applications are submitted in relation to Legal Actsof the Union. The national Parliaments should have theopportunity to submit their comments to the EuropeanCommission on its negotiation mandate.5.5. COSAC notes the proposal for the amendment of the Treaties asregards the transitional measures concerning the composition ofthe European Parliament, which provide for 18 additional seats atthe European Parliament, as agreed by the European Council atits meeting on 18 and 19 June 2009.