Amid growing global concerns over climate change, Prime Minister Manmohan Singh on Monday favoured creation of financial mechanisms by the international community to promote environment-friendly technologies and their transfer to developing nations to deal with the problem.
At a meeting in New Delhi to discuss a Strategy Paper on Climate Change by renowned British economist Nicholas Stern, he also pressed for promotion of environmentally-sustainable development to deal with the challenge of global warming.
During the meeting Stern, the I G Patel Professor at the London School of Economics, commended India's efforts to understand and address the challenges of climate change.
"The international community should consider creating financial mechanisms that will promote environment friendly technologies, transfer of such technologies to developing countries and promote environmentally sustainable development to deal with the challenge of Global Warming and Climate Change," Singh said.
The government is awaiting the National Action Plan on Climate Change to be drawn by the Prime Minister's Council on Climate Change.
The meeting was attended by Finance Minister P Chidambaram, Earth Sciences Minister Kapil Sibal, Deputy Chairman Planning Commission Montek Singh Ahluwalia, member Planning Commission Kirit Parekh, Nandan Nilekani of Infosys Technologies and senior officials.