December 10, 2010 / 2:45 AM / 7 years ago

U.N. climate draft proposes $100 billion fund

<p>Activists of Environment Greenpeace perform next to a giant life ring, during talks on climate change, in Cancun beach December 10, 2010. A deadlock on whether or not to preserve Kyoto after 2012 has hobbled the two-week meeting in Mexico, and countries will have to agree to defer the issue if they are to unlock other deals on climate aid and protection of rainforests. REUTERS/Henry Romero</p>

CANCUN, Mexico (Reuters) - A draft accord from a U.N. climate conference on Friday proposed a raft of modest deals, including a $100 billion (63.28 billion pounds) annual “green fund” by 2020, a temperature target and payments to protect tropical forests.

The draft aimed to limit global warming to less than 2 degrees Celsius (3.6 F), and would deliver “adequate and predictable support, including financial resources” for developing countries that protect their forests.

To become a U.N. decision, the draft, agreed by groups of ministers, would have to be cleared by a conference of about 192 countries at a full meeting in Cancun, Mexico, on Friday or Saturday.

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