The final draft of the climate agreement that was worked on by negotiators and leaders from over 190 countries was released on Saturday, and the pact is reportedly expected to put the cap on global warming below 2 degrees Celsius.

Several countries, especially the oil-producing ones, had opposed the ambitious 1.5 degrees Celsius cap proposal. 

However, French Minister Laurent Fabius, president of the Conference of Parties (COP21) summit, said that the draft sought to limit temperature rise to "well below 2C" and that nations must strive towards achieving the 1.5C goal. 

"The Paris agreement text allows each delegation to go back home with their head held high," the French minister said. 

French President Francois Hollande called the draft text of the Paris climate deal 'fair and balanced' and said that it was ambitious but also realistic. 

"This will be a major leap for mankind," Hollande said on the final day of the summit, hoping that the countries ratify the text on Saturday. 

"I will be delighted, relived, proud, that it be launched from Paris, because Paris was attacked almost exactly a month ago," the French president said. 

United Nations chief Ban Ki-moon also urged envoys to 'finish the job' on the climate pact. 

The Paris climate pact will provide $100 billion in climate financing to developing countries by 2020.

This climate pact, if ratified, will be the first to include all the nations to commit to cutting greenhouse gas emissions. 

The climate talks in Paris saw two weeks of intense discussions and negotiations, and the summit was extended by a day till Saturday to bring out the final draft.