Click to play videoCopenhagen: After weeks of hectic negotiations at COP15 only five countries including India, China and the US arrived on Saturday at a proposal.
The big bang show to save Planet Earth ended in a whimper and a possible face saver came from a proposal by a US-led group of five countries, including India and China.
The proposal agrees to limit global warming to two degrees till 2050 but sets no targets for carbon cuts. The proposal is not legally binding, the verification clause has been dropped and developed countries pledge to raise $100 billion annually by 2020 to finance developing nations.
"I was working through the day with Prime Minister of South Africa, Prime Minister of China, Prime Minister of India, President of Brazil and also President of South Africa to achieve what I believe would be an important milestone. What we have achieved in Copenhagen will not be the end, its a new beginning of a new era of international action," claimed US President Barack Obama.
For Prime Minister Manmohan Singh, who delayed his departure from Copenhagen to hammer out the deal, the contentious points have been dealt with.
"I think India has got a good deal. Hopefully the draft is adopted by the plenary. The most important thing is that the BASIC countries and it is not only India getting deal. Whatever deal India has got is on behalf of the four countries - Brazil, South Africa, India and China which have negotiated from Day I," said Environment Minister Jairam Ramesh.
But the proposal has stirred outrage among the G-77 bloc.
"It represents the worst development in climate change negotiations in history. And I say this because a gross violation, gross violations have been committed today. Against the hope, against tradition of transparency and participation on equal footing by all nations and parties," said Sudanese representative and Chairman of the G77+China group Lumumba Stanislaus Di-Aping.
Obama brokered a last minute deal between five nations - the BASIC countries.
Talks are still going on but G-77 is unhappy with the alliance and the deal saying the deal is not upto mark. They have also threatened to walk out of plenary session.
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