A compromise has been reached between developed and developing countries on how to address the impacts of climate change, BBC reported.

At least 194 countries that have recently attended the annual climate change talks in Lima Peru adopted an agreement that commits them in reducing green gas emission.

Although environmental groups sees it as short of what is needed to save the world from the adverse impacts of climate change, European Union sees it as a positive step.

Peru's environment minister, Manuel Pulgar-Vidal, who chaired the summit, told reporters: "As a text it's not perfect, but it includes the positions of the parties," was quoted as saying.

UK climate change minister Ed Davey said: "I am not going to say it will be a walk in the park in Paris."

He described the deal as "a really important step" on the road to Paris.

Next year's summit will be in Paris, Prance.

According to the United Nations website, "The Kyoto Protocol is an international agreement linked to the United Nations Framework Convention on Climate Change, which commits its Parties by setting internationally binding emission reduction targets."

Contentious issues in the climate change talks are that developed nations are mostly responsible for high levels of emissions but it's the developing nations, whose contribution to carbon emissions are lest than the rich countries are the now suffering from the global impacts

Recognizing that developed countries are principally responsible for the current high levels of GHG emissions in the atmosphere as a result of more than 150 years of industrial activity, the Protocol places a heavier burden on developed nations under the principle of "common but differentiated responsibilities."

The Kyoto Protocol was adopted in Kyoto, Japan, on 11 December 1997 and entered into force on 16 February 2005. The detailed rules for the implementation of the Protocol were adopted at COP 7 in Marrakesh, Morocco, in 2001, and are referred to as the "Marrakesh Accords." Its first commitment period started in 2008 and ended in 2012.

"The Kyoto Protocol is seen as an important first step towards a truly global emission reduction regime that will stabilize GHG emissions, and can provide the architecture for the future international agreement on climate change," the website added.