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At the October Summit, 28 EU leaders agreed a framework for climate policy in the period to 2030, most notable a commitment to reduce emissions by “at least” 40%. This enables the EU to bring a clear commitment to the Lima climate conference in December 2014. A constructive ambiguity, however, characterizes what was agreed in several key respects. Our analysis, which interprets the conclusions by answering 10 key questions, suggests that the new master plan may not be quite as ambitious as it seems.