Promotion of green economy is essential to mitigate the climate change. In order to promote green economy, the economic leaders ( US, West European countries and Japan) must take a lead in reducing fossil fuel based energy consumption through modest energy consumption behavior, and increasing the share of renewable energy. It is well known fact that about 20% of world population ( from developed countries) consumes about 80% of total energy consumed and about 80% of remaining population ( from developing countries and LDCs) consumes only about remaining 20% of energy.
It is also well established fact that during first oil crisis in 1973-74, most of the developed countries could reduce the consumption of fossil fuel energy, and even could increase the share of clean energy, however, LDCs and developing countries could not do the same, and they kept on consuming the same amount or more energy at very high price even during that period also due to lack of capacity and access to technology and finance. This situation even prevails today to a great extent due to prohibitive price charged for renewable technology specially of solar by developed countries who possesses some of these technologies.
It is also a well known fact that energy, development and environment are interrelated in a complex way. Energy is essential for economic and social development, more use of energy would adversely impact environment, degraded environment can adversely affect the social and economic development, but economic development if achieved up to certain level it can protect the environment by putting in place proper policies. To some extent inter-dependability among energy , environment and development can be reduced, but this can largely be done by developed countries and to some extent fast developing countries who has got capacity, technology and finance.