DUBAI -- COP28 President Sultan Ahmed Al Jaber announced on Wednesday that parties to the UN climate summit have agreed on a "historic" climate deal.

"It is an enhanced, balanced but make no mistake, a historic package to accelerate climate action. It is the UAE consensus," said Al Jaber.

The deal stipulates a slew of measures to cope with climate change regarding adaptation, finance, flexibility, and fossil fuels, among others.

The announcement came after COP28, or the 28th session of the Conference of the Parties to the UN Framework Convention on Climate Change, was extended beyond the official end time of midday Tuesday due to the deadlock over the previous draft text of a final agreement.