The Headline in the Guardian screams "Copenhagen Ends in Failure"
Some corners, on the other hand see it as a breakthrough, because there is a new agreement which seems to take the place of Kyoto and is more of an easy sell to the Developed World. One headline lauded the deal as "meaningful".
I suppose it comes down to what a person's individual view is. The treaty encourages nations to work in a way so the temperature doesn't rise above 2C on average. This is a good thing, although many wanted 1.5C.
A reference in the Guardian gives this summation:
But it disappointed African and other vulnerable countries who had been holding out for far deeper emission cuts to hold the global temperature rise to 1.5C this century. As widely expected, all references to 1.5C in previous drafts were removed at the last minute, but more surprisingly, the earlier 2050 goal of reducing global CO2 emissions by 80% was also dropped.
The agreement also set up a forestry deal which is hoped would significantly reduce deforestation in return for cash. It lacked the kind of independent verification of emission reductions by developing countries that the US and others demanded.
So no real goals and what goals have been set in the past are now dropped. There is a vague reference to what is wanted, plus the sort of promise to have something in place next years. In other words, a huge waste of time.
By the way, it's not a treaty, because its not at all binding, it's an Accord, sort of a general statement of agreement that means we'll all sorta kinda work towards something, when its convenient. Oh and we'll throw a few bucks at the nations that are going to take climate change on the chin because, we would rather buy their silence then do something constructive.
Hey Developed World, how about use the money, double it and develop clean energy yourself. The same applies to you China! Then take the extra, give it to the developing world and help them develop their own clean energy- plus give aid and comfort to them because until we get our act together they are going to be the ones to suffer.