Climate change is a business proposition, too. Little wonder, Indian businesses are keeping an eye on the proceedings at the 13th Conference of the Parties to the United Nations Convention on Climate Change (UNFCCC), which begins today in Bali, Indonesia.

Environment ministers from the world over are gathering in Bali to negotiate a successor to the Kyoto Protocol, which expires in 2012. The Protocol makes it obligatory for rich countries to cut their greenhouse gas emissions by at least 5% below their 1990 emissions by 2008-2012.

Assocham president VN Dhoot says, ?India hopes that negotiations and recommendations are based on the principle of equal rights where every global citizen has the access to the world?s natural resources.? It?s estimated that an average Indian emits 20 times less greenhouse gases than an American and 10 times less than that of a citizen in the EU.

He adds, ?India must commit itself to reducing emission growth, empowering its industrial structure, enhancing financing capab-ilities and fulfilling its public policy objectives.?

Krishan Kalra, secretary-general, PHD Chamber, adds, ?Developed countries in the EU and countries like the US, Japan and Canada should start committing resources on a greater scale for assisting developing countries and combating greenhouse gas emissions. It?s because they are responsible for causing climate change and have the resources and the capability to assist others.?

He adds, ?The developed world should be asked to invest more in R&D for evolving green clean technologies. Moreover the innovations and discoveries should add to the world knowledge pool and be easily accessible to countries in the developing world.?

Rakesh Bakshi, managing director of Vestas RRB India Ltd, couldn?t agree more. He says that the climate conference will provide a platform for India to insist upon collective action in addressing the issue of climate change. ?We should lay greater stress and emphasis on diffusion of clean technologies from developed countries to developing countries.?

He adds, ?We must as a nation insist on an appropriate framework for developing countries like ours to work closely with developed countries on the subject of clean technology transfer.?

There is a unanimity that time is slipping by and time to act is now. Says Raaja Kanwar, managing director, Apollo International Limited, ?The Bali Conference once again gives us an opportunity to grapple with this pressing issue of climate change and act on it. From industry each and every one of us irrespective of investment levels must do our bit in adopting cleaner and eco-friendly technologies.?

He adds, ?It?s not just development but sustainable development that is the key issue staring at us. We have to realise that time is slipping by and we owe it to our future generations to save the earth.?

In fact, business leaders from all over the world are also meeting up in Bali on December 10. Geneva-based World Business Council for Sustainable Development and Paris-based International Chamber of Commerce are organising the Bali Global Business Day to enable businesses to become part of the solution rather than remain part of the problem.

The theme of the Bali business day is Tri Hita Karana, which owes its origin to the Balinese way of life: Happiness is possible only when the Creator, people and nature maintain a healthy balance amongst themselves. The underlying message is the concept of people, planet and profit as in sustainable development.

Up to 300 world business leaders are expected to contribute to the deliberations for contributing to a new global climate change framework, which will be applicable after 2012.

The deliberations are expected to focus on reducing greenhouse gases like carbon dioxide that cause global warming, the role of businesses in achieving it and the kind of enabling environment needed for it. Only if politicians and negotiators would listen!