Underlining that focus should shift from "carbon credit" towards "green credit", he singled out solar energy, saying it needs to be integrated with hybrid system of energy to make it useful.
He favoured setting up of a consortium of nations having potential in solar energy which could join hands with India in innovation and cutting-edge research that would reduce the cost of solar energy, making it more accessible to people.
He called for a careful evaluation of all the initiatives that have been taken by India in this regard. These include initiatives in solar energy, wind energy, biomass energy, and transportation projects that have reduced distances or travel times.
Modi said India looks at the global concern and awareness on Climate Change, as a great opportunity for working towards improving the quality of life of its citizens, and making a positive contribution for mankind.
"The ministries concerned have been asked to work on these new areas and prepare a concept note in the next four-five months. Once the concept is finalised, the funds will allocated accordingly," a source said.