The agreement reached at the Copenhagen climate conference, the full text of which can be found here, has been called a “sham” agreement by environmental groups and a “meaningful first step” by President Obama.

While the agreement may look like a stalling effort to form yet more commitees, it is important to note that the agreement has the backing of China and India, who have been up until now not amenable to suggested solutions from other nations. The agreement also has the backing of President Obama, who has proven with US health care reform to have a tenacity in the face of hard issues that other world leaders have not exhibited.

Whether it is a meaningful first step as Obama calls it or simply a document to put off the problem for another few months remains to be seen over time. All points in the agreement, including establishment of a fund to help developing nations combat climate change, must see action by 2016. In order to make that happen, action on most of the points must start immediately.

The agreement is the only meaningful item to come out of Copenhagen. A reestablishment of targets for first world nations and action on the part of Europe and North America was conspicuously absent. Friends of the Earth and Greenpeace have decried the lack of action in Copenhagen and numerous other environmental groups are expected to weigh in over the next few days.