Talks to reach a global plan to tackle climate change will be extended one day as countries are struggling to reach consensus, despite the progress in discussions.
French Foreign Minister Laurent Fabius said Friday morning that a final draft will be presented to participating delegations Saturday morning, instead of Friday as planned before, and a deal is aimed to be reached at midday.
“Things are moving in the right direction,” Fabius said raising the hopes for a final deal.
Almost 200 UN nations have been negotiating in Paris since Nov. 29 to reach a first ever global accord to combat climate change.
The main disagreements ahead of the deal concern distribution of financing and the target temperature levels.
Developed nations have already pledged to provide $100 million for developing nations to shift to clean energy sources starting from 2020. However, how that money is going to be raised still remains a matter of dispute.
Nations that are most affected from global warming, especially the small island nations, are also pushing for a lower target temperature at 1.5 degrees Celsius above pre-industrial revolution levels.
However, large polluters such as China and India say it would create an unbearable economic burden and ask the target to be set 2 degrees Celsius above pre-industrial revolution levels.
Latest draft on the table tries to reach a compromise setting the target temperature at “well below 2C above pre-industrial levels and to pursue efforts to limit the temperature increase to 1.5C.“