UPDATED 8:01 AM EST, December 7, 2012
Developing countries want firm commitments from rich nations to scale up climate aid to poor countries to $100 billion annually by 2020, a general pledge that was made three years ago.
Rich nations are unwilling to commit to specific targets now, citing world financial turmoil and pressure on their budgets.
After overnight negotiations, a draft agreement was presented Friday that does not include midterm targets, which developing countries had called for. The U.N. climate secretariat said "further consultations are necessary."
