As I have mentioned before, there are two major things Abbas is trying to accomplish.
One is to use the status of being a "non-member state" to be able to prosecute Israel in the International Criminal Court. (Sort of how he used UNESCO membership also not for anything positive for his people, but to delegitimize the Jewish claim to the Land of Israel.)
The other is to throw language about the mythical "1967 borders" into the resolution, so that he can claim that the UN General Assembly has declared the borders of his state - even though it has no legal right to do so.
Abbas again says the goal of the UN stunt is to establish borders
Here's the full text of the draft resolution.
Remember - this is also the 65th anniversary of the unanimous Arab rejection of the UNGA resolution calling for the partition of Palestine that would have created a Palestinian Arab state.
Arabs think that there should be no consequences for their actions and that they can roll back the clock whenever they want to in order to erase their mistakes, whether the mistakes were made in 1947, 1948, 1967 or 2001.
Sadly, much of the world agrees with them when the only party that stands to lose is Israel.