The leaders of the European Union have not succeeded in raising the planned six billion euros to help developing countries tackle climate change. At their two-day summit in Brussels, the EU leaders had hoped to agree a deal to bring to the table at the climate conference in Copenhagen with the aim of encouraging other countries to follow suit and offer their own financial aid.

The money is intended to fund measures between 2010 and 2012 to address climate change issues in developing countries. The leaders continued their talks through the night in the hope of achieving a breakthrough.

It is not yet clear whether the EU will commit to achieving a 30 percent reduction in greenhouse gas emissions instead of the current 20 percent. Some member states say they are only prepared to meet the new target if countries such as China and the United States agree to more ambitious measures.