Delegates at the 15th session of the Conference of Parties to the United Nations Framework Convention on Climate Change agreed to take note of a document on the 18th of December 2009. This text emerged from negotiations between the United States and four nations known as BASIC countries.
Brazil, South Africa, India, and China formed a united position during these talks. US officials worked directly with leaders from the BASIC group to shape the final language while bypassing the broader assembly of over 190 participating nations.
The resulting agreement did not legally bind any country to future actions. No decision was taken on agreeing to a legally binding successor or complement to the Kyoto Protocol which officially ended in 2012.
Developed nations committed to economy-wide emissions targets for the year 2020 that had to be submitted by the 31st of January 2010. The European Union promised cuts ranging from 20% to 30% compared to 1990 levels while Japan pledged reductions of 25%.
Developed countries agreed to raise $30 billion annually from 2010 through 2012. They also set a goal to mobilize $100 billion per year by 2020 but there remained no guarantee or information on where climate funds would originate.