Prakriti 2025: International Conference on Carbon Markets Begins in New Delhi

New Delhi: The international conference on carbon markets, Prakriti 2025 (Promoting Resilience, Awareness, Knowledge, and Resources for Integrating Transformational Initiatives), commenced today in New Delhi, bringing together policymakers, industry leaders, researchers, and global experts to explore innovative solutions for a low-carbon and sustainable future.

Organized by the Bureau of Energy Efficiency (BEE) under the Ministry of Power, the conference serves as a high-level platform for discussions on the current trends, challenges, and future directions of the global carbon market. The event aims to advance India’s policy-driven, tech-enabled approach toward carbon market development and emissions reduction.

Union Minister for Power and Housing & Urban Affairs, Manohar Lal, inaugurated the event, emphasizing India’s commitment to leveraging carbon markets to tackle climate change. He highlighted the importance of transitioning to renewable energy to reduce fossil fuel dependence and achieve ambitious emission reduction targets. He also spoke about India’s cultural and ecological consciousness, linking traditional practices like Ganga Deep Puja and Govardhan Puja to modern sustainability efforts.

Speaking on India’s carbon market strategy, Additional Secretary, Ministry of Power, Akash Tripathi, stated that the Indian Carbon Market (ICM) is designed to balance the needs of buyers and sellers, ensuring a cost-effective approach to emissions reduction. He outlined a roadmap for a 40% reduction in emissions by 2027, with the remaining cuts to be achieved by 2030.

The conference hosted key discussions on compliance mechanisms, carbon credit systems, and offset strategies. Industry 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, led technical discussions on infrastructure development for carbon markets and strategies to scale up global climate action.

The 170 MW Power Purchase Agreement (PPA) signed between Indian Railways and the Madhya Pradesh government, marking India’s cheapest solar power procurement at ₹2.15/kWh, was highlighted as a key example of leveraging carbon markets for energy transition.

Expressing gratitude to panelists, BEE Director Saurabh Diddi underscored technology’s role in ensuring transparency in carbon markets and acknowledged support from the World Bank, IETA, and PwC in shaping India’s green economy.

The conference continues on Day 2 with plenary sessions on private sector participation in carbon markets, incentivizing renewable energy developers, and ecosystem-based interventions for achieving Net-Zero goals. Prakriti 2025 is poised to become a milestone in India’s climate action strategy, reinforcing the country’s leadership in the global sustainability movement.