Cancun, Mexico (CNN) — Delegates at the United Nations climate change conference in Cancun, Mexico, approved an agreement early Saturday morning, despite objections from Bolivia.
The agreement includes plans to create a $100 billion fund to help developing nations deal with global warming and increase efforts to reduce emissions from deforestation.
Mexican President Felipe Calderon hailed the deal — the culmination of an overnight marathon session at the end of two weeks of talks.
“It begins a new era of cooperation in climate change. They are the first steps in this long and renewed campaign,” he said.
Christiana Figueres, the UN’s chief negotiator at the conference, said the results had “reignited” hope in climate change talks.