COPENHAGEN — The U.N. climate conference narrowly escaped collapse Saturday as bitterly divided delegates agreed after all-night talks to recognize a political compromise that President Barack Obama brokered with China and other emerging powers.

The Copenhagen Accord was bogged down for hours by protests from delegates who felt they were excluded from the process or said the deal didn't go far enough in cutting the greenhouse gas emissions that cause global warming.

After a break, the conference president gaveled a decision to "take note" of the agreement instead of formally approving it. Experts said that clears the way for the accord to begin even though it was not formally approved by the conference.

"We have a deal in Copenhagen," U.N. Secretary-General Ban Ki-moon said, adding "this is just the beginning" of a process to craft a binding pact to reduce emissions.

Disputes between rich and poor countries and between the world's biggest carbon polluters — China and the U.S. — dominated the two-week conference in Copenhagen, the largest and most important U.N. meeting ever on fighting global warming.

Obama met twice with Chinese Premier Wen Jiabao — once privately and once with other leaders — in hopes of sweeping aside some of the disputes that had blocked progress.

The U.S. president appeared to have salvaged the faltering talks Friday when he declared a "breakthrough" with China, India, Brazil and South Africa. But the three-page document they agreed upon ran into trouble in the plenary, where delegates from Bolivia, Cuba, Sudan and Venezuela denounced it.

Obama's day of hectic diplomacy produced a document promising $30 billion in emergency climate aid to poor nations in the next three years and a goal of eventually channeling $100 billion a year by 2020 to developing countries.

It includes a method for verifying each nation's reductions of heat-trapping gases — a key demand by Washington, because China has resisted international efforts to monitor its actions.

It requires industrial countries to list their individual targets and developing countries to list what actions they will take to cut global warming pollution by specific amounts. Obama called that an "unprecedented breakthrough."

The document said carbon emissions should be reduced enough to keep the increase in average global temperatures below 2 degrees Celsius, but it omits the usual reference to pre-industrial levels.

Since leaders failed to agree on a binding deal to reduce greenhouse gases, delegates also scrapped a plan to protect the world's biologically rich tropical forests early Saturday that would have paid some 40 poor, tropical countries to protect their forests.

The overall outcome was a significant disappointment to those who had anticipated the deal brokered by Obama would be turned into a legally binding treaty. Instead, it envisions another year of negotiations and leaves myriad details yet to be decided.