The Prime Minister Dr. Manmohan Singh said here today that 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. The Prime Minister expressed these views at a meeting to discuss a Strategy Paper on Climate Change prepared by Lord Nicholas Stern, I.G. Patel Professor at the London School of Economics. Dr. Stern endorsed the Prime Minister's proposals made at the G8 Summit at Heiligendamm, Germany, last year. He commended India's efforts to understand and address the challenge of Climate Change. The Government is presently awaiting the National Action Plan on Climate Change to be drawn up by the Prime Minister's Council on Climate Change.

The meeting was attended by the Union Finance Minister, the Union Minister for Science & Technology, the Deputy Chairman, Planning Commission, Mr. Nandan Nilekani, Dr. Nitin Desai, Dr. Kirit Parekh and officials of the Prime Minister's Office and Ministry of Environment & Forests.