U.N. climate draft proposes $100 billion fund

CANCUN, Mexico Fri Dec 10, 2010 6:49pm EST

1 of 17. Activists of Environment Greenpeace perform next to a giant life ring, during talks on climate change, in Cancun beach December 10, 2010.

Credit: Reuters/Henry Romero

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CANCUN, Mexico (Reuters) - A draft accord from a U.N. climate conference on Friday proposed a raft of modest deals, including a $100 billion 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.