The international talks that concluded Friday in Cancun resulted in an agreement to raise and pay out $100 billion through 2020 to assist poor nations affected by global warming and give them assistance in developing energy with less carbon output, the report said.
The U.N. talks that lasted two weeks are the latest attempt to rein in the global temperature increase to below 2 degrees Celsius, or 3.6 degrees Fahrenheit, The Daily Telegraph said.
Based on agreements reached in Kyoto, Japan, in 1997, the U.N. effort has met with dissention from various countries on the protocol's industrial ramifications.
Meanwhile, Bolivia was the most vocal opponent of the draft passed Friday, with chief negotiator Pablo Solon saying the carbon reduction targets fell short, the reports said.
"This is tantamount to making us responsible for a situation my president has described as genocide and ecocide," Solon said.