British officials chairing the talks at the COP26 UN climate conference in Glasgow, Scotland, have proposed a third draft agreement in an effort to reach a consensus as the negotiations reach the final phase.

The conference was initially scheduled to end on Friday but was extended as the second draft proposal failed to win support from developing countries over financial support for them.

The effort to limit the global temperature increase to 1.5 degrees Celsius above pre-industrial levels remains in the draft. But it now calls on countries to review and strengthen their emissions reduction targets for 2030 by the end of 2022.

The third draft calls on countries to "accelerate efforts towards the phase-out of unabated coal power and inefficient fossil fuel subsidies."

The third draft also "recognizes the need for support towards a just transition," in consideration for emerging economies, which need to continue to use coal to secure power.

Britain will call and have the participants state their opinions on the new draft and aims to have the document adopted on Saturday.