Copenhagen:
Amid last ditch efforts to salvage the climate summit, the Danish government has come out with a draft accord that skips putting more onus on developed countries on emission cuts and mitigation targets but promises USD 100 billion in finance to developing countries by 2020.
The draft, which may undergo several changes during the negotiations, reflects the key Indian demand that only action involving international finances are open to scrutiny.
Prime Minister Manmohan Singh, who held hectic parleys with the Indian team here, has made it clear that climate change cannot be addressed by perpetuating the poverty of the developing countries.
Among the world leaders attending the summit are US President Barack Obama and Chinese Premier Wen Jiabao.
The draft was circulated after marathon negotiations among key players that stretched overnight. The document also refers to containing the global rise in temperature to 2 degrees Celsius before the greenhouse gases stabilise, in consonance with the Indian position.
The small island states, which are the most vulnerable to global warming, have demanded that the rise be limited to 1.5 degrees Celsius as compared to pre-industrial times.
Details of the draft, obtained by PTI, also mention the concept of peaking without mentioning a "peaking year" for carbon emissions.
Peaking year refers to an year when the greenhouse gases emissions in the atmosphere will reach the highest levels, before stabilising.