One of the reports of 2005 by Reuters says that one of the Chinese energy firms plans to invest $2.48 billion in next five years in other alternative energy projects, treatment of waste and garbage, biomass, etc.
On the other hand India rewards those companies through carbon credits which can be exchanged for money i.e. which can be sold by that company to any other company which is causing pollution in the environment.
Thus, I would conclude that the responsibility to control climate change is more on the shoulders of developed and rich nations as developing nations like India, China and rest of the world are still struggling to meet their basic needs of food, shelter, clothing and basic education which is not possible without development of these countries and this required huge industrialization in these countries with job opportunities created for maximum citizens. Also, in our research we have found out that industrial nations have emitted more greenhouse gases when compared to developing nations like China and India. Thus, rich countries have the biggest responsibility to act in such a way that climate change can be reduced and also guide developing nations how to avoid polluting the climate through technology transfer (Union of Concerned Scientists, n.d). This is often termed as climate justice and equity because it emphasises on the fact that all those nations which are successful today have caused huge damage to the environment in the past and it is their moral duty to take corrective measures now to clean the environment and stop any further damage to the environment. For example- use of biogas, renewable forms of energy, cleaner forms of energy like solar energy, hydro power, etc should be more used when compared to traditional forms of energy like crude and coal. If the rich nations will guide the developing nations about use of these alternate forms of energy, then we are sure that this earth will definitely become a better place to live.