United Nations members have agreed on a deal to tackle climate change at a summit in the Peruvian capital Lima.
The deal asks countries to submit national plans on how they will deal global warming early next year ahead of a crucial summit in Paris.
Developing countries, including China and India, had expressed concern at earlier drafts that they claimed could impose too heavy a burden on emerging economies.
But agreement was finally reached with the final draft saying countries have "common but differentiated responsibilities" to deal with global warming.
"As a text it's not perfect, but it includes the positions of the parties," Peru's environment minister Manuel Pulgar-Vidal said.
Britain is set to pledge hundreds of millions of pounds to a United Nations "green bank" intended to help poor countries prepare for the impact of global warming.
The announcement is expected at a pledging conference in Berlin on November 20, after Prime Minister David Cameron said the UK would "play a very positive part" in supporting the Green Climate Fund.
No specific figure has yet been confirmed for the UK's contribution, but energy minister Amber Rudd said earlier this month that Britain will donate "strongly" to the fund.
Speaking at the G20 summit, Mr Cameron stressed that the money will come from funds already earmarked for international development and does not represent a new financial commitment.
The US and China have unveiled ambitious targets to reduce greenhouse gases ahead of a make-or-break climate change treaty.Read the full story ›
Britain has to work with the rest of the world in tackling climate change, Energy Secretary Ed Davey told ITV News, after a major report highlighted the "severe risks" of rising temperatures.
Mr Davey said: "It shows how urgently we have to act. It needs far greater political will, even in the UK from some political parties, but it needs that political will to be shown around the world".
The Prince of Wales's Corporate Leaders Group, which represents businesses ranging from BT to Thames Water, Shell, EDF and Unilever, called on governments to set ambitious global climate targets.
Philippe Joubert, chairman of The Prince of Wales's Corporate Leaders Group, said:
Many businesses, such as those represented in the Corporate Leaders Group are already investing in a low-carbon future.
But if we are to unlock the scale of change that we need, we must have a level of policy clarity equal to this scientific clarity.
Governments need to pay attention and phase out coal and oil now or end up doing it later at a much higher cost, Greenpeace's head of international climate politics has said, after a major report highlighted risk of climate change.
For scientists, there is nothing vague about how to deal with climate change.
[Those] who seize the potential of renewable energy will leap ahead to a sustainable future.
Climate change is happening, it is almost entirely man's fault and limiting its impacts may require reducing greenhouse gas emissions to zero this century, the UN's panel on climate science has said.
UN Secretary-General Ban Ki-moon, who was at the news conference, stressed that "if we act now, immediately and decisively we have the means to build better and more sustainable world.
He later said: "Inaction of climate action will cost much, much more. This climate action and economic growth are two sides of just one coin".
We must act on climate change now, the Energy Secretary has said, after the publication of a major report on climate change.
Ed Davey, said: "It sends a clear message that should be heard across the world - we must act on climate change now.
"It's now up to the politicians - we must safeguard the world for future generations by striking a new climate deal in Paris next year."