Delegates from 190 nations have approved a draft agreement in Cancun on steps to combat climate change, including a new fund to help poor countries, and put off major disputes until 2011 and beyond.
The deal comprises a plan to design a green climate fund, measures to protect tropical forests and ways to share clean energy technologies and help developing nations adapt to climate change.
It also reaffirms a goal of raising $US100 billion in aid annually for poor countries by 2020 and sets a target of limiting a rise in average world temperatures to below 2 degrees Celsius over pre-industrial times.
Bolivia was the only country to dissent at the meeting in Cancun in Mexico.
Chief negotiator Pablo Solon said the final deal is so weak, that agreeing to it would endorse what he called ecocide and genocide.
Resistance by some countries to the Kyoto Protocol was a stumbling block during the final week of negotiations.
Diplomats were eventually able to find a compromise but the BBC repoets the deal leaves open the question of whether any of its measures, including emission cuts, will be legally binding.
World leaders failed to agree on a treaty at a summit in Copenhagen last year.
Cancun sets no firm deadlines for a legally binding accord.