General results from a 3-5 micron spectroscopic survey of nearby low-mass young stellar objects are presented. L and M-band spectra have been obtained of ~50 low mass embedded young stars using the ISAAC spectrometer mounted on UT1-Antu at Paranal Observatory. For the first time, a consistent census of the CO, H2O ices and the minor ice species CH3OH and OCN- and warm CO gas present around young stars is obtained, using large number statistics and resolving powers of up to R=10000. The molecular structure of circumstellar CO ices, the depletion of gaseous CO onto grains in protoplanetary disks, the presence of hot gas in the inner parts of circumstellar disks and in outflows and infalls are studied. Furthermore, the importance of scattering effects for the interpretation of the spectra have been addressed.
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