Delegates at Climate Change Conference Reach Draft Agreement

The delegates at the United Nations Climate Change Conference (COP21), which is taking place in Paris between November 30 and December 11, managed to reach a draft agreement.

The delegates hope that the draft text could serve as the basis of an agreement to curb global carbon emissions.

The document, which contains 48 pages, will be discussed by ministers on Monday, who will have to take the decision whether to turn it into a long-term agreement.

The French climate ambassador warned that major political differences still remained, the BBC reports.

Delegates from 195 countries worked overnight in order to meet the deadline, which had been set by the French presidency of the meeting for midday on Saturday.

The French climate ambassador, Laurence Tubiana, noted that "nothing has been decided and noting will be left behind".

The conclusion of the draft agreement marks a critical point after four years of negotiations as it demonstrates the will of all parties to reach an agreement.

The document outlines a range of options for ministers on what the long-term goal of the deal should be as well as the scale and methods of raising climate finance for poorer nations.

However one of the contentious issues still remaining is the division between developed and developing countries.

Many richer countries want a greater number of emerging economies to assume emissions reduction targets and become climate finance donors.