New climate draft sets emissions targets for all

Copenhagen: A third draft climate agreement being considered by world leaders at the UN summit in Copenhagen has introduced greenhouse gas emissions targets for both industrialized and developing countries.

The document, titled the Copenhagen Accord, says rich countries should reduce their greenhouse emissions by at least 80 per cent by the year 2050.

It says developing countries' emissions should be 15-30 per cent below "business as usual," that is, judged against figures for energy used versus economic output.

The latest draft also reinstates a December 2010 deadline for when leaders should adopt a legally binding treaty on fighting global warming.