Yahoo news reports, "Two weeks of talks in the Danish capital have battled intense suspicion between rich and poor countries over how to share out emissions cuts. Developing countries say rich nations have a historic responsibility to take the lead."
A major sticking point is China which is not willing to give in to concessions, and the US which only partially gives in. The reasons being that the US has agreed to go in with other countries to give 100 billion dollars to "underdeveloped countries." China has not agreed to their portion.
However, the US and China are concerned with giving up their self-governing rule. This agreement would place world Climate Change appointees to oversee the wealthier countries such as China and the US.