Holding consumer driven economies responsible for carbon emissions, Power Minister Piyush Goyal today said the principle of polluter pays must be respected in view of climate change talks.
"Principle of polluter pay seems to have been omitted and it must be respected in view of climate change talks," Mr Goyal said responding a query on India's commitment on emission levels in view of forthcoming global talks on climate change.
Addressing a CII conference, Mr Goyal asked developed nations to provide technology and soft loans for promoting renewable energy and reducing emissions in India.
The minister suggested that instead of just talking about green funds, the developed world should provide long term debt through them at lower interest rates.
The Polluter Pays Principle is an environmental policy principle which requires that the costs of pollution be borne by those who cause it.
In its original emergence the Polluter Pays Principle aims at determining how the costs of pollution prevention and control must be allocated.
Referring to the issue of emission he expressed the view that this has happened because consumer driven economies who use cheap power or energy.
India adds just 3 per cent of the world's carbon emissions and entire South Asia with with one fifth of the world's population adds only 4-5 per cent, he added.
France will be hosting and presiding the 21st Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP21/CMP11), otherwise known as 'Paris 2015' from November 30 to December 11.
COP21 will be a crucial conference, as it needs to achieve a new international agreement on the climate, applicable to all countries, with the aim of keeping global warming below 2 degrees Celsius.
On cooperation among South Asian countries, Mr Goyal said that India will be delighted to offer capital, technology and other required help for improving trade and commerce in the region.