The Australian government on Thursday insisted there is still time to get a deal done in Copenhagen.
There has been little progress made since talks started early this month, with only two days remaining, many are pessimistic about any agreements.
However, Environment Minister Peter Garrett said Australia was not giving up.
"We're down to the edge of the Copenhagen discussions," he said.
"Clearly now that national leaders are arriving in numbers, there's still the possibility and the potential for agreements to be struck," he told reporters.
Australian Prime Minister Kevin Rudd arrived in the Danish capital earlier this week to back Climate Change Minister Penny Wong, who has helped run the talks since Dec. 8.
"The leaders are there, it is the 11th hour, but here's hoping they can reach a common agreement," Garrett said.
Australia is one of the several developed nations to sign up to one of the first agreements made in Copenhagen with a deal to protect forests in neighbouring countries.
Rudd has committed 120 million Australian dollars (107 million U.S dollars) to the 3.5 billion US dollars fund under the deal struck on Wednesday.