In Copenhagen on December 18, efforts were made by world leaders to salvage a global climate agreement. However, the lack of new proposals from major greenhouse gas emitters such as China and the United States hindered the chances of a comprehensive deal. US President Barack Obama and other leaders are working towards reaching agreements on carbon emission reductions, financial assistance for developing nations, temperature limits, and international monitoring of emissions reductions. While there has been some progress in certain areas, disagreements still exist regarding emission targets and monitoring methods, according to conference delegates. Obama expressed readiness to finalize the agreement, emphasizing the need for all parties to take action rather than just talk. He noted that despite nearly two decades of international discussions on climate change, there has been little tangible progress, with climate change continuing to worsen. The period for discussion has ended. What is at risk is a pact for united worldwide efforts to prevent climate change, which could lead to increased occurrences of flooding and droughts. Negotiations in Copenhagen have been marked by mistrust between wealthy and developing nations regarding the distribution of emission reductions. Developing countries, especially those most susceptible to climate change, argue that affluent nations should assume a greater responsibility. The environment minister of Sweden, representing the EU presidency, pointed out that the cooperation of the United States and China is crucial for reaching an agreement. He mentioned that the United States was slow in making commitments to address climate change. China's reluctance to be monitored was a major challenge. Carlgren stated that the main sufferers in this situation are developing countries. The EU had intended to support developing countries, but this was hindered by the powerful nations. U.S. Secretary of State Hillary Clinton arrived in Copenhagen and pledged that the United States would contribute to mobilizing $100 billion a year to assist developing countries in dealing with climate change, on the condition that a deal was reached. However, President Obama did not make any new commitments and remained focused on the goal of reducing greenhouse gas emissions by 17 percent by 2020 compared to 2005 levels, which equates to 3-4 percent compared to 1990 levels, in contrast to the EU's target of 20 percent. Chinese Premier Wen Jiabao also reaffirmed existing targets, though he suggested that China, the world's largest carbon emitter, may surpass them. "We will follow through on our promises with tangible actions," stated Wen. Despite the uncertain results of the conference, we are dedicated to not only meeting but surpassing the set goals." After their meeting, Obama and Wen were described as making progress by a White House representative. The two leaders had a productive conversation covering all major topics and have instructed their negotiators to collaborate with other nations to potentially reach an agreement. Sweden's Prime Minister Fredrik Reinfeldt has called on China and the United States to take action on reducing greenhouse gas emissions, as they account for 40 percent of global emissions. Reinfeldt emphasized the importance of these two countries doing their part in order to meet the 2 degree target. A British official, commenting after Obama's speech, expressed pessimism about the prospects for a deal. Several important countries are resisting the proposed overall agreement, and there is limited time left. Negotiators were unable to reach an agreement on carbon reductions during recent talks. Even after discussions on Friday morning, President Obama and other leaders were unsuccessful in achieving a breakthrough. French President Nicolas Sarkozy stated that Chinese opposition to emission monitoring was a major obstacle. He mentioned that while talks are ongoing, no final decision has been reached yet. A preliminary document obtained by Reuters proposed a target of $100 billion per year by 2020 to assist developing countries in addressing the effects of climate change. It also endorsed providing $30 billion to the least developed nations between 2010 and 2012, and suggested that global warming should be limited to 2 degrees Celsius compared to pre-industrial levels. Scientists believe that a 2 degrees limit is necessary to prevent severe consequences of climate change such as rising sea levels, species extinction, and crop failures. The goal of the two-week conference in Copenhagen is to reach an agreement on climate action that can be transformed into a legally binding treaty next year to replace the expiring Kyoto Protocol. The United States did not ratify the Kyoto Protocol, and it does not apply to developing countries. The draft text for Friday anticipates ongoing negotiations to establish one or more new legal treaties by the end of 2010.