It's done.

After a grueling all-night session here in Copenhagen, the United Nations has passed a motion recognizing an agreement on climate change that the U.S., China and other nations reached just before midnight last night.

UN Secretary General Ban Ki-moon told BBC News:

Finally, we sealed the deal …  It may not be everything we hoped for, but this decision of the Conference of Parties is an essential beginning.

Ban also stressed that the agreement must be made legally binding next year.

EDF's Fred Krupp had this to say: 

We have never been so close to having so many agree on so much. If anything was clear at the Copenhagen talks it's that the world is waiting for the U.S. to act. When it does, President Obama can knit together the historic breakthroughs obscured by the end of the Copenhagen meeting.

The coalition of the willing that emerged today represents roughly 60 percent of the world’s carbon emissions. It will undoubtedly be joined by others as ‘low-carbon’ becomes the new term of engagement in the global economy.
 
A lot of hard work remains, but a lot of hard work is finished. The new positive steps taken here, many of them by developing countries, present the U.S. Senate and President Obama with an historic opportunity. When most of the pieces of the puzzle are in place, it’s much easier to add the missing ones later.