Copenhagen Agreement

It took place during the United Nations Climate Change Conference in Copenhagen and was signed by the United States, China, Brazil, India and South Africa. The text of the agreement recognizes the need to limit the increase in global temperatures to 2ºC above pre-industrial levels. In addition, it provided for financial aid from developed countries to developing countries in the amount of US$30 billion in the first 3 years, so that they can deal with the impacts of climate change. This aid was to reach US$100 billion by 2020. Under this agreement, developing countries were to submit proposals for projects, actions to mitigate emissions, adaptation and capacity building and technology transfer.