Posted December 10, 2015 08:41:31

A trimmed-down draft of a global agreement to limit climate change has been released right after a week and a half of negotiations in Paris.

Audio: Draft climate adjust agreement released but a lot of concerns unresolved (AM)

But there are hundreds of points still getting contested and the huge troubles are far from resolved.

Australia’s Foreign Minister Julie Bishop has described it as “the beginning of the end of the negotiations.”

She has narrowed her focus to 3 key troubles but to be resolved — how ambitious it will be, how to balance duty among created and establishing countries and how the deal is financed.

The option of aiming to limit worldwide warming to 1.five degrees Celsius rather than the less ambitious 2C has not been however ruled out.

The option of explicitly aiming to reach “zero net emissions” is nevertheless on the table, but the option on the table is a more ambiguous aim of “low international emissions”.

But the largest battle remaining is how to balance obligations and responsibilities among created and building nations.

Clearly Australia’s view is that all nations require to take action, that there ought to be a level playing field.

Foreign Minster Julie Bishop.

This most current draft still contains the selection of getting diverse accounting systems for emissions for developed and developing countries, which is something Australia wants to see eliminated in these final days.

“That’s a quite hardline position but there are some other bridging choices that have been place forward, and clearly Australia’s view is that all nations require to take action, that there need to be a level playing field and that is what we’ll be looking for,” Ms Bishop said.

Negotiations on these concerns will influence how significantly funds sophisticated nations are ultimately willing to offer building nations.

Up to $ US100 billion ($ 140 billion) has been pledged up to 2020 but the draft is currently silent on what the figure may be beyond that.

Regardless of whether sophisticated economies need to spend loss and damages to other nations also remains unresolved.

French foreign minister Laurent Fabius has warned the clock is ticking.

“Some progress has been made, but there is still a lot of work to be completed,” he said.

“We need to prepare to be functioning all evening and tomorrow, almost certainly continuously.”

The self-imposed deadline for this deal is the finish of the week but there is a universal expectation that talks will have to spill over into the weekend.

“There is nevertheless a lot of function to be carried out,” Ms Bishop said.

Subjects: climate-alter, government-and-politics, france, australia

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