India said it is taking "convincing steps" on reducing climate change effects. India feels that there is not enough mobilisation on the issue of financial assistance to developing nations for technology transfer to which developed nations had agreed.

On Tuesday, German environment minister Sigmar Gabriel, at the first Indo-German Environment Forum, said his country understands India’s stand on mandatory cuts on emissions.

The minister also warned that any effect of financial crisis on the global initiative for climate change will have serious consequences. China, which is another important player on the issue, has already warned international community not to ease up in their action against climate change in the present financial meltdown scenario.

"Financial aspect is very important......But it should be seen that multilateral commitments (on climate change) should not get diluted in anyway," said the German environment minister who said technology transfer is important for developing nations like India and without which "international solidarity" on fight against climate change cannot be achieved.

—PTI