Delegates at Cancún climate talks reach modest agreement

Delegates at climate change negotiations in Cancún, Mexico, agreed to a package of measures early Saturday morning meant to make progress on reducing global warming pollution.

The package, modest in scope, gives countries another year to debate the merits of extending the landmark Kyoto Protocol climate agreement.

Here are the details of the agreement, from a U.N. statement:

“The accords include a $30 billion-package for 2012 to aid nations taking immediate actions to halt effects of global warming, as well as financing for long-term projects to protect the environment through a Green Fund, which will provide $100 million annually for adaptation and mitigation measures.”

“Delegates also approved the creation of the forestry program Reducing Emissions from Deforestation and Forest Degradation (REDD+) to facilitate the flow of resources to communities dedicated to forest conservation.”

Various interest groups praised the delegate’s work, but warned that more action is needed to prevent the worst effects of climate change.

Center for American Progress President John Podesta said in a statement, “This is a big win for all of us who have been arguing that this is the most efficient way to move forward with fighting climate change in the near term and absolutely essential as a means to protect biodiversity and advance global conservation goals.”

“But,” he added, “we also need stronger action to succeed.”

The environmental group Friends of the Earth said in a statement, “The texts considered tonight are a wholly inadequate response, though they make progress in some areas.”

And the BlueGreen Alliance, a coalition of unions and environmental groups, praised the agreement, while warning, “But while some progress was made here in Cancún, much more work is required as we look to negotiations in South Africa. Looking ahead, countries must meet their commitments and continue to move forward aggressively on these key issues to achieve a global agreement that creates millions of good, green jobs in every corner of the world.”