'Collective solution needed for climate change challenge'

An optimal solution to the climate change challenge is only possible if the world can find ways to reach a mutually satisfactory collective solution, prime minister Manmohan Singh said today.

"We face new problems which pose very difficult challenges and issues arising out of climate change and its impact give rise to new concerns about a sustainable path of development," Singh said at the 92nd annual conference of the Indian Economic Association here.

Pointing out that sustainable development was intimately linked with energy efficiency and energy security, he said it also posed complex problems of global equity in burden sharing.

"Economists have much to contribute to our understanding of complexities involved and finding constructive solutions," he said, adding "your work can help bridge differences and help us build a socially just society."

Quoting Mahatma Gandhi, he said, "Earth provides enough to satisfy every man's need, but not every man's greed."