Photo: © 2009 AAP/AFP/DDP/AXEL SCHMIDT

The 'Danish Text' - believed to be work of some of the world's biggest polluters – has been published in its entirety by the UK's Guardian paper.

It shies away from the Kyoto Protocol, which called on wealthier nations to shoulder the burden of emissions cuts and allowed poorer nations to make minor or even no cuts to their carbon output.

Instead, poorer nations would be asked to cut emissions, thereby allowing wealthier nations to make smaller cuts to their emissions output and maintain a carbon footprint twice the size of their poorer counterparts'.

Australia, along with the USA, the UK and Denmark, is reportedly part of the 'Circle of Commitment' behind the draft proposal.
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If successful, the proposal would mean a 25 per cent cut in emissions over a ten year period for us.

But it would also come at a much higher cost than the ETS legislation recently offered up the Rudd government. 

Opposition leader, Tony Abbott, has jumped on the leaked draft, declaring taxpayers could be footed with a $400 billion bill to cut carbon.

"I think that the Australian people ought to be very concerned about anything that Mr Rudd might sign us up to in Copenhagen," he says.

He has also slammed the whole Copenhagen summit as just a PR stunt.