Paris talks: the world is waiting for ministers to ratify 'historic' climate change deal

As one of the most important climate change summits in history wraps up in Paris today, organisers say a final draft text for limiting carbon emissions has been agreed.

Two weeks of intense negotiations at the UN 'COP21' summit have produced a drafted final agreement including a universal commitment to limiting carbon consumption so that globally temperatures do not exceed another two degrees Celsius, with the target of keeping warming below 1.5 degrees.

Announcing the deal, French foreign minister Laurent Fabius quoted the late South African President and Nobel Peace Prize Laureate Nelson Mandela, saying:

It always seems impossible until it's done.

None of us acting alone can be successful. Success is built collectively.

Ministers are expected to approve the proposals at a meeting on Saturday afternoon.

The deal, if ratified, will work under a five year review system, in which countries are expected to evaluate and increase their carbon cutting commitments.

Rich countries will contribute $100billion from 2020 to address "climate justice" in parts of the world which are more vulnerable to climate change, but there has been criticism from developing world leaders, who say that the final draft of the agreement may not reflect this as part of the main body of the text.

Developed countries have refused to consider the option of liability or compensation for climate change issues.

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