18th of December is the last day of COP15 conference on climate change. An agreement drawn up Friday night by leaders from the US, China, India, Brazil and South Africa has been recognized Saturday morning by the Parties to the UN Framework Convention on climate change.

The text is still strongly debated, and it remains to be seen how many countries will sign on to the Copenhagen Accord.

The most important result in Copenhagen was, according to US president Barack Obama, the large emerging economies began for the first time to open up to taking on responsibilities for limiting growth of greenhouse gases.

The Copenhagen accord will have an annex to which countries are to state their reduction target. These national actions will be subject to international consultations but the pledges given will not be legally binding.

A solution to global warming will not came if only developed countries act. The US president stressed: "we have to assure that whatever carbon we take out is not just dumped in by other parties. Emerging countries will need to have some sort of responsibilities. Not exactly the same and not at the same pace. And if we could also set up a funding mechanism to help the most vulnerable countries like Bangladesh, we would have a framework that would allow us to be effective in the future."

Several developing countries, including Bolivia, Cuba, Sudan and Venezuela, bitterly protested the deal and said it is unacceptable because it locks specific targets for reducing carbon emissions.

Obama's day of hectic diplomacy produced a document promising 30 billion dollars in emergency aid in the next 3 years and a global of channelling 100 billion dollars a year by 2020 to developing countries with no guarantees.

The emerging outcome was a disappointment to those who had anticipated the Copenhagen Accord would be turned into a legally binding treaty. Instead, it envisions another year of negotiations and leaves myriad details yet to be decided.

It requires industrial countries to list their individual targets and developing countries to list the actions they will take to cut global warming pollution by specific amounts.

The document said carbon emissions should be reduced enough to keep the increase in average global temperatures below 2 degrees Celsius (3.6 degrees Fahrenheit) compared to pre-industrial levels.

Despite its lack of targets to curb emissions, German Chancellor Angela Merkel and other leaders agree to defend the new climate deal.

The rich - poor disputes in Copenhagen that dominated the 2 weeks climate conference and almost blocked any deal all have almost disappeared after the summit.