US-CII 2

Prime Minister of India Manmohan Singh, is keen on an
'inclusive' deal at COP15 that is based on 'equity and has
relevance' to India's economic growth, he said.

"India has been long since involved in vast efforts to
manage its emissions and reverse the effects of climate
change. But we need to do more to let the world know about
those initiatives," Godrej said.

Major business organisations from Australia, Brazil,
Canada, Denmark, Germany, Europe, Japan, Kenya, and the US
exchanged views on a new international agreement on climate
change, advance shared objectives, and contribution to the
ongoing negotiations under the UN Framework Convention on
Climate Change (UNFCCC) and the Major Economies Forum on
Energy and Climate(MEF).

The declaration said business needs a greater financial
commitment from governments worldwide to reduce the cost and
improve the performance of new technologies. "Business would
prefer to see funds established in a way that promotes action
by the private sector, including foreign direct investment,
but that does not directly flow from government to
government," it said.
"A new agreement should include reform of the Joint
Implementation and Clean Development Mechanism (CDM) that
provide the opportunities in some countries to finance clean
technologies and implement climate change measures in emerging
and developing economies," the declaration said. MORE PTI LKJ
ANU


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