Follow India Renewable Energy News on WhatsApp for exclusive updates on clean energy news and insights

Prakriti 2025: India’s Commitment to Carbon Markets & Climate Action

India reaffirmed its commitment to climate action through Prakriti 2025, an international conference on carbon markets held in New Delhi. Organized by the Bureau of Energy Efficiency (BEE) under the Ministry of Power, the event brought together global leaders, policymakers, industry experts, and researchers to discuss the development, challenges, and future of carbon markets in driving emissions reduction and sustainability.

Key Highlights from the Conference

1. India’s Vision for Carbon Markets
   • Hon’ble Union Minister for Power and Housing & Urban Affairs, Shri Manohar Lal, highlighted carbon markets as a key tool for reducing fossil fuel dependence and achieving India’s climate targets.
   • He emphasized India’s traditional ecological consciousness, citing Ganga Deep Puja and Govardhan Puja as cultural inspirations for sustainability efforts.
   • He stressed the need for robust carbon policies that are real, verifiable, and fraud-proof to ensure credibility in emissions reduction.
2. Indian Carbon Market (ICM) Strategy
   • Shri Akash Tripathi, Additional Secretary, Ministry of Power, stated that the Indian Carbon Market (ICM) will ensure that targets align with buyer and seller needs in emissions trading.
   • A phased approach will be adopted:
     • 40% emissions reduction by 2027
     • Full compliance by 2030
   • Shri Saurabh Diddi, Director, BEE, highlighted India’s policy-driven, tech-enabled carbon market, positioning it as a model for emerging economies.
3. Global & Technical Discussions
   • Key experts, including Shri Ajay Mathur (Director General, ISA), Mr. Marcos Castro (World Bank), and Ms. Leena Nandan (Former Secretary, MoEFCC), led discussions on:
     • Carbon credits & offset mechanisms
     • Infrastructure for functional carbon markets
     • Global carbon market dynamics & compliance frameworks
   • Technology & transparency were emphasized as critical enablers for efficient and credible carbon markets.

Outlook & Next Steps

Day 2 of the conference will feature discussions on:

• Private sector perspectives on carbon markets
• Incentivizing RE developers through carbon credits
• Ecosystem-based interventions for Net-Zero goals

India is positioning itself as a leader in global carbon trading, leveraging policy frameworks, technological innovations, and financial mechanisms to drive emissions reductions.