Delegates scramble to reach agreement on final day of climate talks

Determined not to go home empty-handed, world leaders have reportedly agreed to stay overnight in Copenhagen to continue the climate change negotiation.

A central part of that final negotiation is President Obama's demand that developing countries agree to participate in an emissions reporting and verification mechanism. Obama spoke earlier today, in a much-anticipated speech.

"We know the fault lines because we've been imprisoned by them for years.  These international discussions have essentially taken place now for almost two decades, and we have very little to show for it other than an increased acceleration of the climate change phenomenon.  The time for talk is over.  This is the bottom line:  We can embrace this accord, take a substantial step forward, continue to refine it and build upon its foundation.  We can do that, and everyone who is in this room will be part of a historic endeavor -- one that makes life better for our children and our grandchildren."

Obama reiterated the US bottom line on cuts - which he has described as a "realistic" reduction, cutting emissions by 17 percent by 2020, and by more than 80 percent by 2050. After the speech, many environmentalists criticized Obama's hard line.  FSRN'S Jenny Johnson has more from the Bella Center, in Copenhagen.

And this breaking news from Jenny Johnson inside the Bella Center: negotiators say they've reached an agreement and details are forthcoming. FSRN will continue to watch this story and bring you more developments next week.