The meeting of Asia-Pacific leaders in Singapore is the last major gathering before a UN climate summit in Copenhagen to ramp up efforts to fight climate change.
APEC (Asia-Pacific Economic Cooperation) leaders have watered down draft text on emissions cuts, dropping a reference to reductions of minus 50% by 2050, pledging instead to "substantially" cut carbon pollution by 2050, the latest draft leaders' statement says.
The meeting of Asia-Pacific leaders, ministers and CEOs in Singapore is the last major gathering of global decision-makers before a Uinted Nations climate summit in Copenhagen in three weeks meant to ramp up efforts to fight climate change.
But hopes have been dashed that the Copenhagen meeting will yield a legally binding framework for a new deal. Arguments over targets have been a key stumbling block in UN negotiations and at other forums, such as the G8.
While the APEC talks are not part of the troubled UN climate negotiations, any future emissions goals the 21 members adopt is crucial because the group is responsible for about 60% of mankind's greenhouse gas pollution.
The initial draft leader's statement said "global emissions will need to...be reduced to 50% below 1990 levels by 2050".
The latest draft says, "We believe that global emissions will need to peak over the next few years, and be substantially reduced by 2050, recognising that the timeframe for peaking will be longer in developing economies".
In July, the G8 failed to get major developing nations China and India to sign up to the goal of halving world greenhouse gas emissions by 2050.
The 17 biggest emitters in the Major Economies Forum chaired by president Barack Obama on the sidelines of the G8 could only get China and India to agree temperature rises should be limited to 2 Celsius (3.6 Fahrenheit).
Conservation group WWF said this week it was doubtful the minus-50% goal would be in the final APEC leaders' declaration.
"Normally it doesn't survive in these kinds of circumstances," said Kim Carstensen, head of WWF's global climate initiative.
He was referring to past objections from China and other big developing nations on adopting a 2050 emissions target unless rich nations adopt a 2020 target as well.
Developing countries blame rich nations for most of mankind's greenhouse gas pollution to date and say they should make major reductions first.
The APEC draft doesn't mention a 2020 target, but does retain a goal of limiting the global average temperature increase to within 2 degrees Celsius.
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