Approximately three months prior to the commencement of mega Copenhagen meet on climate change, India on Tuesday listed out its key expectations, including financial compensation for its afforestation initiatives, extention of clean development mechanism (CDM) and an international agreement on green technology transfer from the developed to developing countries.

?The outcome of the summit depends on these three keys issues,? said minister for state for environment and forest Jairam Ramesh while addressing the Idea Exchange programme of the Express Group.

He said India, which is adding a million hectare of forest via various afforestation programmes, must be accordingly financially compensated.

?While we have earned around $6 billion via carbon credit, CDM needs to be expanded,? Ramesh said. His point of view was endorsed by Nobel laureate and chairman of the Growth Commission Michael Spence.

?There is every reason for the CDM accord to be extended beyond 2012, when it runs out,? he said.

?With lesser funds flowing towards the transfer of green technology from developed countries, any major initiatives toward climate change mitigation would be difficult to achieve,? Ramesh observed.

Although, as per Kyoto Protocol (2008-2012) ratified under the United Nation Framework Convention on Climate change (UNFCCC), India does not have a legal binding or obligation to reduce carbon emission.

Ramesh said, ?The country must take voluntary cut on green house gas (GHG) emission without compromising on its annual economic growth rate.?

Strongly pitching that developed countries reduce their per capital green house gases, he said, ?At no point India?s per capita emission would be higher than the developed world.?

Last week, the government came up with its GHG projection for the next two decades which states that even by 2030-31 India?s per capita greenhouse gas emissions would be lower than the per capita global GHG emissions in 2005.

India?s per capita emissions in 2020 would be much lesser than those of industrialised countries even if they take on 25-40% emission cut targets as recommended by the

Inter-governmental Panel on Climate Change (IPCC) to keep the temperature rise below 2 degree since pre-industrial times, the projection report said.