The participating nations acknowledged that evidence for global warming was unequivocal, and that humans must reduce emissions to reduce the risks of "severe climate change impacts". The urgency in addressing climate change was accepted. There was a strong consensus for updated changes for both developed and developing countries. Although there were not specific numbers agreed upon in order to cut emissions, the decision recognized that there was a need for "deep cuts in global emissions" and that "developed country emissions must fall 10-40% by 2020".
Participants agreed on enhanced co-operation to "support urgent implementation" of measures to protect poorer countries against climate change, including National Adaptation Programmes of Action.
Technology
In technology development and transfer, the nations will consider how to facilitate the transfer of clean and renewable energy technologies from industrialised nations to the developing countries. This includes, inter alia:
Ways to accelerate the, and transfer of such technologies.
Cooperation on research and development of current, new and innovative technology, including win-win solutions.
The effectiveness of mechanism and tools for technology cooperation in specific sectors.
Finance
Provision of financial resources and investment includes:
Improved access to predictable and sustainable financial resources and the provision of new and additional resources, including official and concessional funding for developing country Parties.
Positive incentives for dcP for national mitigation strategies and adaptation action.
Innovative means of funding for dcP that are particularly vulnerable to the adverse impacts of climate change in meeting the costs of adaptation.
Financial and technical support for capacity-building in the assessment of costs of adaptation in developing countries, to aid in determining their financial needs.
The Conference decided to establish two subsidiary bodies under the Convention to conduct the process, the Ad Hoc Working Group on Long-term Cooperative Action and the Ad Hoc Working Group on Further Commitments for Annex I Parties under the Kyoto Protocol, which were to complete their work in 2009 and present the outcome to the COP15/MOP 5. The AWG-LCA and AWG-KP presented draft conclusions to COP15 and CMP5, which contained many unresolved issues. The working groups were subsequently asked to report to COP16 and CMP6 in Cancun, Mexico.
Timescales
Four major UNFCCC meetings to implement the Bali Road Map were planned for 2008, with the first to be held in either March or April and the second in June, with the third in either August or September followed by a major meeting in Poznań, Poland in December 2008. The negotiation process was scheduled to conclude at the United Nations Climate Change Conference 2009 in Copenhagen.
