The negotiations held at the United Nations Framework Convention on Climate Change reveals there is a wide gap between the developed and developing nations which has threatened the equity related components of the Convention. It has been felt that there is a need to follow the principle of common but differentiated responsibilities (CBDR) that will serve as the medium for bringing about equality. Developed nations are however reluctant to practice it. There is a need to address the problem in a holistic manner keeping in mind the requirements of the South Asian regions especially. This paper deals with several issues; on one hand it talks about the problem of climate change and on the other hand discusses on the issues of equity and development. It also brings forth the fact that the current problem is mainly due to the negligence and irresponsible behavior of developed countries that has increased carbon emissions into the atmosphere and the brunt of problem has to be borne by the developing countries.