The highly-anticipated climate talks in Paris are inching their way towards an "ambitious" agreement on the global carbon budget from 2020 onward. A deal is expected to be clinched on Friday, after two week's bargaining mainly between the world's poorest countries and the richest.

No matter how ambitious the final outcome is, there is a danger that the developed economies are faced with a "lost decade" in terms of failing to deliver on their climate promises for the poor countries.

This inconvenient conclusion can be draw from the 50-page draft agreement text reached by the negotiators in. Reading through the text reveals no mention on how the rich countries will fulfill their promises of funding support and technology transfer by 2020 to boost the capacities of developing countries to fight climate change.