They struck a deal in Copenhagen. As expected, it satisfies few and angers many. That means it is probably the best deal that could have been reached given the profound differences among the 193 nations that negotiated the agreement. The document that was finalized urges, but does not require, deep cuts in greenhouse gas emissions by major polluters and provides billions of dollars in aid to poor nations to help mitigate the impact of climate change.

The Copenhagen Accord is a step forward, but it is clearly not the bold initiative that many had hoped for. It is a triumph — if we can call it that — for pragmatism and realism.

Despite two years of negotiations, it became clear several months ago that the 15th United Nations Climate Change Conference, better known as COP15, would not conclude with a fully fleshed out accord to succeed the Kyoto Protocol, which expires in 2012. At best, leaders would outline a framework with details to be filled in next year. Yet, even those modest ambitions were set to be thwarted after 10 days of frustrating negotiations.