The 21st Conference of Parties (COP21) in Paris reached a final draft in its formulation of a climate change deal Saturday, which aims to keep global warming under 2 degrees Celsius (3.6 degrees Fahrenheit).

The draft also calls to limit greenhouse gas emissions and reach a balance of sources and sinks for the gases in the second half of the century, in addition to the goal of keeping the temperature increase “well below” 2 degrees Celsius with hopes to limit it to 1.5 degrees Celsius.

Progress will be reviewed every five years according to the deal, and $100 billion is to be given to developing countries by 2020 to finance their work to protect the climate.

“Today we are close to the final outcome,” said French Foreign Minister Laurent Fabius, who hosted the conference. “It is my deep conviction we have come up with an ambitious and balanced agreement.”

UN director-general Ban Ki-Moon also praised the deal, saying, “we must protect the planet that sustains us. For that we need all hands on deck.”

Several scientists have suggested moving off fossil fuels between 2050 and 2100 to reach the goals of the deal, while the 1.5 degree Celsius goal would require zero net carbon emissions being reached between 2030 and 2050 according to some research.