An early draft of the Copenhagen climate change agreement, which is being called the "Danish Text" and was prepared by a group of countries including the U.S., U.K. and Denmark, has been leaked to the Guardian and has perturbed delegates from developing countries:
The agreement, leaked to the Guardian, is a departure from the Kyoto protocol's principle that rich nations, which have emitted the bulk of the CO2, should take on firm and binding commitments to reduce greenhouse gases, while poorer nations were not compelled to act. The draft hands effective control of climate change finance to the World Bank; would abandon the Kyoto protocol – the only legally binding treaty that the world has on emissions reductions; and would make any money to help poor countries adapt to climate change dependent on them taking a range of actions.
The text itself is here.
Diplomats from developing countries are worried that Barack Obama and other rich-country leaders will try to "muscle through" the agreement this week, but it seems pretty unlikely to me that any agreement is getting muscled through unless the world's largest emitter is okay with it.