The rules relate to land-use change, which can either release or absorb carbon, depending mainly on whether forests are planted or chopped down.
Rich countries, apart from the US, could account for about 5% of their annual emissions through this loophole.
The US is not involved in these negotiations because the proposals fall under the Kyoto Protocol, of which it - alone among developed countries - is not a part. Read the full report here.
Source: Richard Black, Environment correspondent, BBC News, Bonn