After two weeks of negotiations, an agreement was only reached on the last day, Sunday, December 11, after a marathon 60-hour session. Negotiators agreed to be part of a legally binding treaty to combat global warming. The conditions for the future treaty should be set by 2015 and enter into force in 2020.  The agreement, called the Durban Platform for Enhanced Action, was remarkable in that, for the first time, it included developing countries such as China and India, as well as the United States that had refused to ratify the Kyoto Protocol.  The United Nations Framework Convention on Climate Change (UNFCCC) is the main global response to climate change. The Kyoto Protocol is an international agreement that ranks countries according to their degree of industrialization and obliges some countries to meet greenhouse gas emission reduction targets. To put countries such as the United States, China and India in the global mitigation tent, the agreements reached in Durban had to reflect a wide range of interests and be designed in such a way as to offer flexibility, especially for large emitters. The negotiations have painfully shown that there are many deep-seated divisions between key players on critical issues. Nevertheless, the Durban outcome is a step forward in the establishment of an international agreement beyond Kyoto, with mitigation commitments from all major emitters, including industrialized countries and several major developing countries.
During the recent UN climate negotiations (COP 17) in Durban, South Africa, the issue of transparency in climate finance emerged in different contexts in the final agreement on long-term cooperation. .