Environmental analysis news: Draft agreement reportedly reached in Copenhagen

An initial agreement relating to financing and temperature rises has been reached at the UN Climate Change Conference, however, details over emissions cuts have yet to be decided, Reuters reported.

Negotiators have hammered out a deal, which involves a two degrees C cap on global temperature rises and aid for poor nations totalling at least $100 billion (£61.89 billion).

However, the news provider noted that the timing and level of CO2 emissions cuts has yet to be agreed, with just one day remaining at the summit.

Fredrik Reinfeldt, the Swedish prime minister, said: "There are deep differences in opinion and views on how we should solve this. We'll try our best until the last minutes of this conference."

US president Barack Obama is due to join the negotiating table today, where he is expected to speak privately with his Chinese counterpart, Wen Jiabao.

British prime minister Gordon Brown told the Daily Mirror last night that he is "optimistic" that a deal can be brokered.

Although Mr Brown admitted that the agreement will not be legally binding, he commented that he hoped that this could be rectified at a follow-up conference, scheduled to be held in Mexico next year.

Posted by Lauren Steadman