Main aim was to establish a global climate agreement for the period from 2012 when the first commitment period under the Kyoto Protocol expires
The conference did not achieve any binding agreement for long term action
A ‘political accord’ was negotiated by approximately 25 parties
Collective commitment by developed countries for new and additional resources , including forestry and investments through international institutions to a tune of $30 bn for the period 2010-12.
Copenhagen Accord
Not legally binding and does not commit countries to agree to a binding successor to the Kyoto Protocol
Annex 1 parties would commit to economy-wide emissions targets for 2020 to be submitted by 31 Jan 2010. Delivery of reductions and finance by developed countries will be measured , reported and verified (MRV) in accordance with COP guidelines
Non-annex 1 countries would implement Nationally Appropriate Mitigation Actions to slow their carbon emissions