A coalition of countries led by the US is “roadblocking” negotiations on financing the commitments made in the 2015 Paris climate agreement, thereby threatening to bring progress to reduce damaging greenhouse gas emissions to a halt, a charity has warned.

A proposal by the US, Japan and Australia, during negotiations at a climate summit in Bangkok, involves removing specific rules for how countries should account for climate finance contributions.

As part of the Paris accord, developed countries agreed to help less developed countries achieve their emissions targets by jointly contributing $100bn a year by 2020.

Without adequate financing, developing countries will struggle to deal with both the increasing impacts of climate change, and in adopting greener technologies.

The proposed changes to the agreement, now under consideration, could mean in future, commercial loans would count towards a developed country’s climate finance obligations.

The setback comes days after a top UN official warned urgent action was required to avoid the “catastrophic effects” of climate change, and warned governments are not doing enough to meet their climate targets.

Patricia Espinosa, head of the executive secretary of the UN Framework Convention on Climate Change (UNFCCC), said they are unlikely to hit the goal of the Paris climate agreement to cap temperature increases at 2C, or to the more ambitious 1.5C.

“1.5 is the goal that is needed for many islands and many countries that are particularly vulnerable to avoid catastrophic effects. In many cases it means the survival of those countries,” she said.

“With the pledges we have on the table now, we are not on track to achieve those goals.”

ActionAid International, which is monitoring the Bangkok talks said: “With a little over 48 hours remaining, developed countries, led by the US have roadblocked negotiations on financing.”

“Most alarming is the complacency of other developed countries as the US seeks to undermine this vital element of the Paris accord.

The organisation added: “Even parties that want to be seen as climate champions, like those within the EU and Norway, are hiding behind the US and remaining silent.”

The Paris agreement set out grand ambitions to move the world away from fossil fuels and avert the worst consequences of climate change.

But the plan was vague on details, and after the US and then Australia distanced themselves from the agreement, there has been greater pressure to take decisive and binding action.

The Bangkok conference was convened to decide the rules that will govern the accord, but as it draws to a close it looks as though less will have been achieved than organisers hoped.

Protesters in Bangkok demand clean air in February 2018 after the Thai capital endured over a month of smog ( Getty )

The summit was designed to provide the essential framework for the Paris agreement, ahead of the UN’s climate change conference (COP24) in Poland at the end of the year.

Paris climate talks in pictures Show all 12 1 / 12 Paris climate talks in pictures Paris climate talks in pictures A man is covered with a multi-coloured banner with the message, "Climate" as environmentalists attend a demonstration near the Eiffel Tower in Paris, France, during the World Climate Change Conference 2015 (COP21) that meets in Le Bourget, December 12, 2015 Reuters Paris climate talks in pictures French President Francois Hollande (C) and French Foreign Minister Laurent Fabius (R) applaud after a statement at the COP21 Climate Conference in Le Bourget, north of Paris, on December 12, 2015. The years-long quest for a universal pact to avert catastrophic climate change neared the finish line today with conference host France announcing that the final draft had been completed in the early hours of the morning. Getty Paris climate talks in pictures US Secretary of State John Kerry (C) speaks with China's Special Representative on Climate Change Xie Zhenhua (R) and officials at the COP21 Climate Conference in Le Bourget, north of Paris, on December 12, 2015. The years-long quest for a universal pact to avert catastrophic climate change neared the finish line today with conference host France announcing that the final draft had been completed in the early hours of the morning. Getty Paris climate talks in pictures Delegates and members of NGO's read and work on copies of 'The adoption of the Paris agreement' is pictured after the announcement of the final draft by French Foreign Affairs minister Laurent Fabius at the COP21 Climate Conference in Le Bourget, north of Paris, on December 12, 2015. The years-long quest for a universal pact to avert catastrophic climate change neared the finish line with conference host France announcing that the final draft had been completed in the early hours of the morning Getty Paris climate talks in pictures UN climate chief Christiana Figueres (C) speaks with French President Francois Hollande (L), United Nations Secretary General Ban Ki-moon (2ndL) and French Foreign Minister Laurent Fabius (R) after a statement at the COP21 Climate Conference in Le Bourget, north of Paris, on December 12, 2015. The years-long quest for a universal pact to avert catastrophic climate change neared the finish line today with conference host France announcing that the final draft had been completed in the early hours of the morning Getty Paris climate talks in pictures A Swiss Dominican priest poses with activists dressed as polar bears as activists gather for a demonstration to form a giant red line at the Avenue de la Grande armee boulevard in Paris on December 12, 2015, as a proposed 195-nation accord to curb emissions of the heat-trapping gases that threaten to wreak havoc on Earth's climate system is to be presented at the United Nations conference on climate change COP21 in Le Bourget, on the outskirts of Paris. Getty Paris climate talks in pictures Activists hold up a giant banner reading 'Climate justice' by association 'ourpowercampaign' during a demonstration near the Arc de Triomphe at the Avenue de la Grande armee boulevard in Paris on December 12, 2015, as a proposed 195-nation accord to curb emissions of the heat-trapping gases that threaten to wreak havoc on Earth's climate system is to be presented at the United Nations conference on climate change COP21 in Le Bourget, on the outskirts of Paris. Getty Paris climate talks in pictures Representatives of indigenous peoples demonstrate in Paris, France, as the World Climate Change Conference 2015 (COP21) continues at Le Bourget, December 12, 2015. Reuters Paris climate talks in pictures Environmentalists demonstrate near the Arc de Triomphe in Paris, France, as the World Climate Change Conference 2015 (COP21) continues at Le Bourget, December 12, 2015. Reuters Paris climate talks in pictures Environmentalists demonstrate near the Arc de Triomphe in Paris, France, as the World Climate Change Conference 2015 (COP21) continues at Le Bourget, December 12, 2015. Reuters Paris climate talks in pictures Activists form a giant red line during a demonstration on the Avenue de la Grande armee boulevard in Paris on December 12, 2015, as a proposed 195-nation accord to curb emissions of the heat-trapping gases that threaten to wreak havoc on Earth's climate system is to be presented at the United Nations conference on climate change COP21 in Le Bourget, on the outskirts of Paris ALAIN JOCARD/AFP/Getty Images Paris climate talks in pictures The slogan "No Plan B" is projected on the Eiffel Tower as part of the World Climate Change Conference 2015 (COP21) in Paris, France, December 11, 2015. Reuters

The US has taken a leading role in the effort to abandon financing agreements, and blocked talks over long-term future financial plans to help limit global emissions, despite the Trump administration announcing its intention to withdraw from the Paris Agreement back in 2016.

Provisions in the agreement mean the US withdrawal will not take effect until 2020.