The draft agreement for the United Nations Conference on Sustainable Development was finished early on Tuesday, leaving a day for delegates to consider it before the opening of the high-level segment of the meeting.

Delegates showed extraordinary flexibility and political will during the three days of informal consultations coordinated by Brazil, Brazilian Foreign Minister Antonio Patriota said on Tuesday.

The text attempted to incorporate "the maximum" amount of concerns and suggestions made by participants, including last-minute negotiations on outstanding issues, said Patriota.

The Rio+20 summit, the three-day UN conference that begins on Wednesday, has brought together world leaders, policymakers and representatives from governments, private sectors and NGOs to help shape global development.

Developing a green economy was discussed in the previous three rounds of preparatory committee meetings, and observers said negotiations have almost wrapped up but that there were no "impressive details".

Sheng Fulai, head of a research unit for the UN Environment Programme in Geneva, said in an interview with China Daily on Monday that although negotiators are wrestling with terms, they all agree that a green economy is the pathway to future sustainable development.

"There was a long-term misconception that economic growth negatively affected the environment," Sheng said. "We wanted to re-emphasize the positive effects of the green economy and guide both public and private investment to shift from the usual businesses to green sectors."

China's Assistant Foreign Minister Ma Zhaoxu said on Saturday that developing a green economy is a complex and long-term process.

Ma said it's extremely difficult for developing countries to build a green economy and that the international community should provide favorable terms for developing countries to address these major concerns.

Last year, the UN Environment Programme officially presented the concept of a green economy, aiming to guide policymakers to explore the idea and create more green jobs.

Sheng said the concept is to encourage countries to create more investments in green sectors, such as new energy, clean technology, architecture and sustainable transportation, as well as safe food and water.

Exactly two decades ago, world leaders gathered in Rio de Janeiro and agreed on an international environmental treaty at what was informally known as the Earth Summit. That treaty, however, was non-binding.

At this week's summit, more than 50,000 visitors are expected in Brazil's second-largest city, and few details have been released regarding what will be agreed this time around.

Sheng said macro policies needed to be changed to adapt to transitions in investments, including taxes, resource price adjustments and subsidies.

The European Union and Canada regard a green economy as an opportunity for a new industrial revolution to drive the global economy and create more jobs. Officials said the EU and Canada have pushed aggressively toward that issue in preparatory committee meetings.

[email protected]