It's not shown nor mentioned in the 2009 U.K. owner's manual; I'm not fluent enough in French and German to go looking for and reading their owner's manuals.
Being located next to the light controls, I'll take a wild assed guess and say it might change whether the headlight dips to the right or to the left for Europeans that may be driving between countries where you drive on the right in one country and on the left in another country i.e. taking the Chunnel between England and France.
But that's just a guess. I haven't been in Europe since the army last sent me there in the 90's.