The Economic Survey presented in Parliament says that the global climate community faces a deadline for reaching an agreement in 2015, bringing in more than 190 countries to pledge emission cuts for the post 2020 period. It is important that future agreements should take into account developing countries concerns and requirements fully. The issue of how developed and developing countries will be treated in these global pacts is the most crucial aspect.

New climate deals must ensure that developing countries are granted the required “carbon space and development space”. Governments are currently working on two new agreements on climate change and sustainable development, both of which will be new global frameworks for action to be finalized next year. Following the Rio+20 mandate, the global community is working to develop a set of Sustainable Development Goals (SDGs), possibly to be integrated with Millennium Development Goals (MDGs), when they end in 2015.

The survey notes that Human- induced Greenhouse gas (GHG) emissions are growing and are chiefly responsible for climate change. The world is not on track for limiting increase in global average temperature to below 2◦C, above pre-industrial levels. GHG emissions grew on average 2.2 per cent per year between 2000 and 2010, compared to 1.3 per cent per year between 1970 and 2000.

As far as India is concerned, India’s per capita carbon emissions increased from 0.8 metric tons to 1.7 metric tons in 2010, well below the world average of 4.9 metric tons in 2010. India has already committed that its per capita emissions will not exceed those of the developed countries under any circumstances. India is making progress in implementing national plans on climate change. It has reduced its CO2 emissions per unit GDP by 20 per cent between 1990 and 2011. There has been considerable progress in achieving targets under National Action Plan on Climate Change. State Action Plans on Climate Change for 9 states have been endorsed. The cumulative costs of India’s low carbon strategies have been estimated at around USD 834 billion at 2011 prices, between 2010 and 2030. Even though India has accommodated the sustainability concerns in the development path, it is constrained in its effort, as the magnitude of resources required is very large. Raising new and additional resources for SDGs and the non-capitalization of the Green Climate Fund is a matter of serious concern and may threaten the credibility of the global negotiation process.

The global negotiations provide an excellent opportunity to ensure a fair burden sharing, cooperation between the rich and poor nations. At the heart of this challenge now lies a fair division of global rights and responsibilities. The survey calls for decisive action to achieve the goals of sustainable development and it underlines that the climate deals must ensure that developing countries be given their fair share of carbon and development space.

Carbon space and development space must be allocated to developing countries to ensure fair burden sharing in climate deals. Global climate agreements must secure equitable allocation of carbon space and development space for developing countries, recognising differentiated responsibilities and capabilities in post 2020 pledges. The text stresses rising human induced greenhouse gas emissions, India's comparatively low per capita emissions alongside national low carbon measures, and the large estimated costs of low carbon strategies that heighten the need for additional international finance and credible capitalization of climate funds.