A new major international climate deal will be ratified in Paris at the COP21 by ministers from more than 190 countries and the details of the agreement will be announced soon.
According to the Independent, the final agreement includes a plan to ensure that the temperature rises to no more than 1.5C above pre-industrial levels, which is a key demand by vulnerable countries fearing their survival due to global warming.
French foreign minister Laurent Fabius announced the deal and said that the agreement aimed to show, that the 'collective' efforts are worth more than the sum of 'individual' efforts.
He asserted that the deal also 'acknowledged the notion of climate justice' and announced a five year review system which would see nations review and increase their pledged emissions cuts.
Delegations are expected to receive a copy of the draft deal at around 1:30pm (12:30pm GMT) and will then have a few hours to go through it before making the final decision to ratify it.
"None of us acting alone can be successful. Success is built collectively. In this room you are going to be deciding a historic agreement. The world is holding its breath," Fabius said.
French President Francois Hollande said the deal will be the first universally agreed climate change treaty ever and that it was potentially 'a massive leap for mankind'.
Meanwhile, the focus of political dispute remains the financing for developing nations to deal with the herculean task of tackling climate change and pay for it accordingly.
Indian Minister of Environment Prakash Javadekar accusing developed countries of not showing flexibility towards poorer countries.
Marshall Islands foreign minister Tony de Brum, also alleged that there had been a 'co-ordinated campaign to gut the text' of ambition by some developed countries. (ANI)