Minister of Environment and Forests, Thiru TR Baalu has emphasised the need for transfer of financial resources and technology from developed countries to developing countries under the United Nations Framework Convention on Climate Change (UNFCCC). Speaking at the Ministerial Armchair Dialogue on Climate Change: Globe 2000 in Vancouver Canada, Shri Baalu pointed out that the UNFCCC explicitly underlined the conspicuous North-South disparities by recognising the "common but differentiated responsibilities" and respective capabilities. Thus, while underpinning the principle of equity, the Convention differentiated the levels of commitments for reducing greenhouse gas (GHG) emissions for the developed and the developing countries.
The Minister also stated that developing countries hosting the Clean Development Mechanism (CDM) project should be the sole judge of national sustainable development priorities. He said that industry interest would play a key role in giving momentum to CDM and consequent sustainable development and added that India has been seeking the views of industrial associations on the design of the CDM.
Shri Baalu acknowledged the usefulness of the Vancouver meet for exchange of views between countries representing various regions in the run-up to the Climate Change conference in November this year, at The Hague, Netherlands, where shape will be given to the international mechanisms and related issues, like a compliance system. Argentina, Canada, Egypt, Netherlands, Uganda and the USA, besides India, are participating in the Vancouver meet to take stock of the progress made in the multi-lateral negotiations on climate change.