"A Meaningful and Unprecedented Breakthrough Here in Copenhagen"

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In a much-anticipated United Nations climate change conference in Copenhagen, Denmark, the President arrived after nearly two weeks of work with the firm intention of seizing the opportunity to get something solid done.  And as he explained in remarks at the end of the day, defying many expectations, the world will not leave empty-handed:

Today we've made meaningful and unprecedented -- made a meaningful and unprecedented breakthrough here in Copenhagen.  For the first time in history all major economies have come together to accept their responsibility to take action to confront the threat of climate change.

Let me first recount what our approach was throughout the year and coming into this conference.  To begin with, we've reaffirmed America's commitment to transform our energy economy at home.  We've made historic investments in renewable energy that have already put people back to work.  We've raised our fuel efficiency standards.  And we have renewed American leadership in international climate negotiations.

Most importantly, we remain committed to comprehensive legislation that will create millions of new American jobs, power new industry, and enhance our national security by reducing our dependence on foreign oil.

That effort at home serves as a foundation for our leadership around the world.  Because of the actions we're taking we came here to Copenhagen with an ambitious target to reduce our emissions.  We agreed to join an international effort to provide financing to help developing countries, particularly the poorest and most vulnerable, adapt to climate change.  And we reaffirmed the necessity of listing our national actions and commitments in a transparent way.

These three components -- transparency, mitigation and finance -- form the basis of the common approach that the United States and our partners embraced here in Copenhagen.  Throughout the day we worked with many countries to establish a new consensus around these three points, a consensus that will serve as a foundation for global action to confront the threat of climate change for years to come.

This success would have not been possible without the hard work of many countries and many leaders -- and I have to add that because of weather constraints in Washington I am leaving before the final vote, but we feel confident that we are moving in the direction of a significant accord.

In addition to our close allies who did so much to advance this effort, I worked throughout the day with Prime Minister Meles of Ethiopia, who was representing Africa, as well as Premier Wen of China, Prime Minister Singh of India, President Lula of Brazil, and President Zuma of South Africa, to achieve what I believe will be an important milestone.

Earlier this evening I had a meeting with the last four leaders I mentioned -- from China, India, Brazil, and South Africa.  And that's where we agreed to list our national actions and commitments, to provide information on the implementation of these actions through national communications, with international consultations and analysis under clearly defined guidelines.  We agreed to set a mitigation target to limit warming to no more than 2 degrees Celsius, and importantly, to take action to meet this objective consistent with science.

Taken together these actions will help us begin to meet our responsibilities to leave our children and our grandchildren a cleaner and safer planet.
Now, this progress did not come easily, and we know that this progress alone is not enough.  Going forward, we're going to have to build on the momentum that we've established here in Copenhagen to ensure that international action to significantly reduce emissions is sustained and sufficient over time.  We've come a long way, but we have much further to go.

To continue moving forward we must draw on the effort that allowed us to succeed here today -- engagement among nations that represent a baseline of mutual interest and mutual respect.  Climate change threatens us all; therefore, we must bridge old divides and build new partnerships to meet this great challenge of our time.  That's what we've begun to do here today.

For energy holds out not just the perils of a warming climate, but also the promise of a more peaceful and prosperous tomorrow.  If America leads in developing clean energy, we will lead in growing our economy, in putting our people back to work, and in leaving a stronger and more secure country to our children.

And around the world, energy is an issue that demands our leadership.  The time has come for us to get off the sidelines and to shape the future that we seek.  That's why I came to Copenhagen today, and that's why I'm committed to working in common effort with countries from around the globe.  That's also why I believe what we have achieved in Copenhagen will not be the end but rather the beginning, the beginning of a new era of international action.

He then proceeded to take questions, read the rest of the transcript for more details.