The landmark bill aims to cut emissions by 60% by 2050.
But the bill stops short of demands from the Conservative Party for annual emissions targets to reduce greenhouse gases.
David Miliband, the environment secretary, launched the bill with a video on YouTube. He said: "I have sat with the environment ministers of India, China and the African countries. What they say to me is 'What are you going to do? Because we want to develop in the way you have.'"
"Now I can say to them we are the first country in the world to have a legislative requirement that we will bear our global responsibility to helping tackle this global problem."