In 1992 in Rio-de-Janeiro in Brazil was convened the ‘Environment and Development conference’, also known as earth summit. More than 150 representatives of the world participated in it. The important subjects related to the environment were discussed in the summit. It was also decided to establish Global Environment Facility (GEF), a world bank for financial assistance. It was also expected to protect biodiversity of the world. In the conference a historic document ‘Agenda 21’ of 800 pages was also prepared. It highlighted the important points which needed the attention of the world.

In the earth summit 1992, the developing countries tried to prove the fact that developed countries were more responsible for the damage of environment in comparison to developing countries, which of course divided the summit into two groups. Thus develped nations accepted their greater responsibility and agreed to provide financial assistance through ‘Agenda 21’.