Union Minister for Power and Housing & Urban Affairs, Manohar Lal, inaugurated Prakriti 2025 – International Conference on Carbon Markets in the national capital today. Organised by the Bureau of Energy Efficiency (BEE) under the Ministry of Power, the conference aims to foster discussions on carbon market dynamics, global challenges, and sustainable solutions for climate action.
The high-profile event serves as a platform for policymakers, industry leaders, researchers, and experts to deliberate on emerging trends and strategies for advancing the Indian Carbon Market (ICM) and achieving global sustainability goals. The conference underscores India’s commitment to reducing carbon emissions and transitioning towards a low-carbon future through policy-driven, technology-enabled mechanisms.
During his inaugural address, Manohar Lal emphasised the critical role of carbon markets in combating climate change. He reiterated India’s commitment to reducing dependence on fossil fuels and promoting renewable energy (RE) adoption to achieve emissions targets. He also highlighted India’s deep-rooted ecological consciousness, citing traditional practices such as Ganga Deep Puja and Govardhan Puja as examples of sustainable environmental stewardship. Furthermore, he stressed the importance of ensuring transparency and verifiability in carbon reduction mechanisms, making India’s sustainability transition both ambitious and achievable.
Dhiraj Srivastava, Chief Engineer, Ministry of Power, welcomed the distinguished guests and acknowledged the necessity of collective efforts in shaping a sustainable energy future.
Additional Secretary, Ministry of Power, Akash Tripathi, outlined the Indian Carbon Market’s trajectory, ensuring alignment between market participants and national climate goals. He announced a phased implementation plan for carbon reduction, targeting a 40% reduction by 2027 and full implementation by 2030.
Director, Bureau of Energy Efficiency, Saurabh Diddi, delivered the vote of thanks, acknowledging the contributions of key stakeholders, including the World Bank, the International Emissions Trading Association (IETA), and PricewaterhouseCoopers (PwC). He highlighted India’s strategic approach to leveraging technology for carbon market transparency and its potential to serve as a model for emerging economies.
The conference featured in-depth technical discussions led by prominent experts, including Ajay Mathur, Director General of the International Solar Alliance, Marcos Castro, Senior Climate Change Specialist at the World Bank, and Leena Nandan, former Secretary, Ministry of Environment, Forest, and Climate Change. Panel discussions covered crucial topics such as carbon credit mechanisms, compliance strategies, infrastructure development for functional carbon markets, and the global carbon trading landscape.
Building on the momentum of Day 1, the second day of Prakriti 2025 will feature plenary sessions on private sector perspectives on the Indian Carbon Market, incentivising renewable energy developers through carbon markets, and ecosystem-based interventions for achieving net-zero emissions.
With its comprehensive discussions and collaborative approach, Prakriti 2025 is set to become a milestone event in India’s climate action roadmap, strengthening global dialogue on sustainable economic growth and carbon market evolution.
