Climate summit in Lima extended as developing nations demand more help from rich countries

Climate summit in Lima has been extended as developing countries are demanding more from rich nations to help pay for cuts in greenhouse gas emissions.

The summit is now expected to go on till Saturday as negotiators hold talks over a new draft text, reported the Guardian.

The summit is designed to prepare a blueprint for a global deal to fight climate change, due to be adopted in Paris in 2015.

Developing nations argued before signing the deal that they needed to see greater commitments from the industrialized countries that they would provide the money to fight climate change.

Ahmed Sareer, the Maldivian negotiator questioned how many Conference of the Parties (CoP) would it take for them to see tangible results and said that they had been doing CoPs but the gaps between assurances and expectations were getting wider.

Rich nations including the U.S. only want to commit to cuts in carbon but developing countries wanted those commitments to include finances for climate change.