The United Nations Climate Change Conference closed early this morning as President Stephan Dion dropped his gavel for the final time on an action plan for the future of the Kyoto Protocol.

It was a dramatic closing session--at least, as far as international negotiations go. With most of the agenda items out of the way, the plenary session adjourned early Friday evening. This was to allow for information negoitations to continue on the one significant item which still remained on the agenda: a decision on Article 3, paragraph 9 of the Kyoto Protocol--the critical section which addresses future emission reduction commitments for parties who have signed on to the Protocol.

A decision on Article 3 paragraph 9 was seen as one of the main outcomes of this conference from the outset. The need for further emission reduction commitments beyond the current deadline of 2012 is necessary to ensure that the Protocol remains binding into the future. Future commitments are also important in order to send a clear message to investors that market-based mechanisms such as emissions trading and the Clean Development Mechanism will provide long-term financial structures beyond the 2012 deadline.

A lot was at stake, so the mood was tense when the plenary finally reconvened nearly nine hours later at 2:30 in the morning. Delegates knew that an attempt to stymie negotiations at this point could seriously compromise the relevance of the Kyoto Protocol.

Initially, it appeared as though these fears might be realised. Russia signalled its opposition to the proposed text, calling for a mechanism of voluntary commitments. Intervening parties were unable to resolve the issue, but there were signs of progress towards a compromise. Sensing an opportuntity to break the stonewall, the President broke the plenary and called a final contact group to address the issue.

After thirty arduous minutes, the plenary reconvened. Visibly exhausted, the President presented a compromise: the Russian intervention could be addressed through separate consultations over the next year. There were no objections. The proposal was gaveled through. Through the plenary, weary delegates rose to their feet and thundered applause.

A process will be initated to discuss further emission reduction commitments. The protocol will have a future!