The objective of the deal includes a target to limit temperature rise by two degrees and an agreement to peak emissions along with providing details of initiatives taken by nations to tackle climate change.
United Nations plans to incorporate these details into its system for assessment to evaluate how countries are living up to their promises to reduce emissions and build a cleaner environment.
The summit agreed to establish a Green Climate Fund for long-term financing to help developing countries in reduction of carbon footprint, accessing low carbon technology and in adapting to climate impacts.
The international deal also reached to a consensus over deforestation where they agreed to slow, halt and reverse destruction of trees and agreed the rules for delivering it and for monitoring progress.
The UK government, to tackle climate change and create a low carbon economy, has created a Green Investment Bank, brought an Energy Bill to transform energy efficiency and introduced an Electricity Market Reform.
Energy and Climate Change Secretary Chris Huhne said that a global climate deal is in the UK’s national interest and Cancun shows other countries also want to get on with getting an international deal.
