Even as the world Recognizes the threat of Climate change and the Need to contain emissions Of greenhouse gases, There has been little movement Towards achieving this objective. A key reason for this is that climate Change is marked by first mover’s Disadvantage. There has been no Demonstrable economic gain for Countries that moved to a regime that Adheres to the health of the planet. Given that countries are at different Places on the development curve, Coupled with unequal access to Finance and technology, a complete Shift in economic trajectory is near Impossible.

It is the first mover’s disadvantage that could explain why the developed world has sought to increase the web of those who have to shoulder the burden of responsibility of reducing emissions. Clearly not wanting to lose out on its economic advantage, the industrialized nations would like to see advanced developing countries like China and India share the burden.

The United Nations Framework Convention on Climate Change, the Kyoto Protocol and the Bali Action Plan remain the bedrock of climate change negotiations. However, the changing economic realities of some developing countries will mean an attempt to rework the “common but differentiated responsibility� principle agreed to at the Rio summit of 1992. Being one of the rapidly growing countries and in close partnership with China, which is now the world’s largest net emitter, India will need to rework its climate change strategy to maximize its goals of development and aspirations to be a global player.