Prakriti 2025: Experts Address Global Carbon Market Challenges

Union Minister for Power and Housing and Urban Affairs, Manohar Lal, inaugurated Prakriti 2025, an international conference on carbon markets, in New Delhi.

A two-day event (24th – 25th February 2025)  organised by the Bureau of Energy Efficiency (BEE) under the Ministry of Power has brought together global leaders, policymakers, industry experts, and researchers to discuss India's strategy for strengthening its carbon market and advancing climate action.

Prakriti 2025—an acronym for Promoting Resilience, Awareness, Knowledge, and Resources for Integrating Transformational Initiatives—serves as a key platform to discuss trends, challenges, and opportunities in the global carbon market.

Manohar Lal emphasised India’s commitment to achieving emissions reduction targets through carbon markets and renewable energy expansion, stressing the need for real, verifiable, and fraud-proof carbon reductions. 

Akash Tripathi, Additional Secretary, Ministry of Power, outlined India's carbon reduction targets under the Indian Carbon Market (ICM), with a 40 percent reduction by 2027 and further cuts by 2030.

Saurabh Diddi, Director of BEE, acknowledged key stakeholders, including the World Bank, International Emissions Trading Association (IETA), and PwC, for their contributions and emphasised the role of technology-driven transparency in ensuring the success of carbon markets.

The conference featured key experts such as Ajay Mathur (International Solar Alliance), Marcos Castro (World Bank), and Leena Nandan (Former Secretary, Ministry of Environment, Forest and Climate Change), who discussed compliance mechanisms, infrastructure development, offset strategies, and carbon credits.

The event continues on Day 2, focusing on private sector perspectives, incentives for renewable energy developers, and ecosystem-based interventions for net-zero goals.

As India scales up its sustainability efforts, Prakriti 2025 marks a significant step in shaping the country’s low-carbon transition and reinforcing its role as a global leader in climate action.