The conference, known as the 19th annual meeting of the United Nations Framework Convention on Climate Change, got underway two weeks ago in the shadow of the giant Philippine typhoon. The talks were attended by more than 10,000 people, including national delegations, journalists, advocates and, for the first time, business leaders.

The death and destruction brought by the Philippine storm helped to highlight the question of “climate justice.” Final agreement on Saturday was held up by a thorny dispute over a proposal by developing nations for the creation of a “loss and damage mechanism” under the treaty. The United States, the European Union and other developed nations opposed the measure, fearing new financial claims.

Peace was restored when the parties papered over their differences, agreeing with the United States to nest the new instrument under an existing part of the treaty dealing with adapting to climate change, but saying they would review its status in 2016. Mohamed Adow, an activist with Christian Aid, said the deal showed that “countries have accepted the reality” of the effects of climate change, but that “they seem unwilling to take concrete actions to reduce the severity of these impacts.”

René Orellana of the Bolivian delegation, said: “It’s important that the loss and damage structure has finally been created. There’s a baby now, and we have to give him enough time to grow.”

Mr. Orellana said the agreement would eventually grow to encompass things like technology transfer, capacity building and migration.