Vinod Bhat
New Delhi: The International Conference on Carbon Markets, known as Prakriti 2026, kicked off today in New Delhi. This event, organized by the Bureau of Energy Efficiency and supported by the Ministry of Power and Environment, focuses on carbon markets and their role in combating climate change.
This year’s theme is “Unlocking Carbon Finance for NDC Implementation through Global Partnerships and Digital Pathways”. It highlights India’s efforts to attract investments and promote digital solutions in climate action. A significant introduction during the conference was the Indian Carbon Market Portal, launched by Union Minister Shri Manohar Lal and other officials. This portal is set to be a central hub for the carbon market in India.
Shri Manohar Lal emphasized India’s commitment to climate action by highlighting how economic growth and environmental responsibility can coexist. He pointed out existing initiatives like the Carbon Credit Trading Scheme (CCTS) and energy efficiency programs, which are key in establishing a reliable carbon market in the country.
India has already established a solid foundation for carbon trading, with numerous registered projects in sectors like biogas, hydrogen, and forestry. Additionally, it has set targets for major industries to ensure accountability and credibility in emissions reductions.
Shri Shripad Naik, Minister of State for Power, added that effective carbon markets hinge on three vital elements: credibility, capital, and collaboration. He noted that India’s advancements in renewable energy position it as a leader in global climate solutions. These efforts not only drive economic growth but also empower small businesses and farmers through innovative opportunities.
The conference features discussions on various topics, including global carbon credit systems, compliance, digital technologies for emissions measurement, and corporate climate strategies. These sessions reflect India’s commitment to building inclusive and effective carbon markets.
According to a recent report by the Climate Policy Initiative, the global carbon market was valued at approximately $272 billion in 2021, and it is expected to grow significantly. This shows a rising recognition of carbon markets as a crucial strategy for achieving climate goals.
The conference aims to position India as a trusted leader in climate action, connecting domestic initiatives with global sustainability efforts. By fostering transparency and nurturing innovation, India is paving the way for a low-carbon future.
