India has pleaded for financial assistances to developing countries for equipping them to develop capacities and become climate resilient.

Science and technology minister Kapil Sibal, speaking at UN Framework Conference on Climate Change in Bali said,

?Developing countries must equip themselves to develop capacities to become climate resilient. For this, we require technology solutions and financial resources at an accelerated rate to cope with and adapt to the inevitability of increased global warming in the coming decades.?

He said estimates of adaptation costs for developing countries run into several tens of billions of US dollars on an annual basis.

?I hope that there is clear recognition by all concerned that these have to be met through new and additional monies and not by re-appropriation of funds meant for development. Resource mobilisation of this magnitude requires that we tap all possible sources, including the carbon market and make full use of the potential from all the Kyoto flexibility mechanisms,? he said.

Sibal said the intellectual property rights (IPRs) regime must balance rewards for innovators with the common good of humankind. Standards and norms must reflect the development levels of where they are being deployed, he said.

He complimented the Bali agenda for bringing technology transfer for implementation. Mere discussion is not enough. ?We need to reach decisions. Absence of decisions only reinforces the perception that there is lack of will on the part of the developed countries to fulfill their commitments. We need to reach consensus on technology transfer and capacity-building?two issues that are really central to the global response to climate change,? he added.

The minister said negotiations under the Kyoto Protocol for quantified, time-bound and substantial GHG reductions by developed countries post-2012 should be completed by 2009.

Bali conference must also focus on urgent action for enhanced implementation of the UNFCC. Adaptation and technology cooperation, forestry issues including afforestation, sustainable lifestyle patterns, sustainable consumption levels and financial arrangements are key to fully address the issues of global warming, he said.