Developed world should transfer green tech free: Assocham

NEW DELHI: India Inc wants developed nations to share the burden of improving the global environment by transferring technology to reduce emission of greenhouse gases free to developing economies, an Assocham survey said.

"Domestic industry may not be in a position to undertake the necessary investments that might be needed to meet any future targets that might be agreed upon for green house gas emissions," it said.

A funding mechanism for developing clean technologies should also be set up, it added.

Out of the 40 participants from sectors like power, steel, automobile, oil and gas, majority said the country should come out with a clear-cut, sustainable and more aggressive approach to tackle the issue of climate change.

The survey added that besides carbon dioxide, focus should also be on reducing emissions of other harmful gases like methane and sulphur.

The US and China each add 20 per cent to the world's total green house gas emissions followed by the EU (15 per cent), while India accounts for about 5 per cent, it said.

Nations are gearing to meet at the world summit on climate change in Copenhagen this December. At the meeting, world's 17 biggest and most polluting nations are expected to reach a consensus on financing efforts to contain climate change and slash gas emissions that lead to global warming.