The world should cut greenhouse gas emissions by 50% by 2050 from 1990 levels with the bulk of the reduction coming from rich countries, according to a draft proposal by Denmark, it has been revealed.

In a draft copy of the proposal seen by Reuters, the hosts of December UN climate talks, said rich countries should account for 80% of the global emission cuts by 2050.

The draft, which could become the basis of a political agreement at the end of the climate talks in Copenhagen, suggested the world adopt 2020 as the year when global emissions will peak, writes Reuters.