Union Minister for Power and Housing & Urban Affairs, Shri Manohar Lal, inaugurated Prakriti 2025, an international conference on carbon markets, held in New Delhi. The event aimed to foster awareness, knowledge, and resources to drive transformational climate initiatives and promote a sustainable, low-carbon future. Prakriti 2025 served as a high-level platform for national and international experts, policymakers, industry leaders, and researchers to discuss current trends, challenges, and future directions of the global carbon market. The conference encouraged innovative solutions and collaboration to advance global climate action. In his inaugural address, Shri Manohar Lal outlined the Indian government’s vision for carbon markets’ crucial role in addressing climate change. He emphasised the need to transition to renewable energy to reduce dependence on fossil fuels and achieve emission reduction targets. The minister also highlighted India’s cultural heritage and traditional ecological practices, like Ganga Deep Puja and Govardhan Puja, as complementary to modern sustainability efforts. Additional Secretary, Ministry of Power, Shri Akash Tripathi, detailed the Indian Carbon Market’s (ICM) strategy to align emission reduction targets with market needs, aiming for a 40% reduction by 2027 and complete implementation by 2030. He stressed the importance of cost-effective measures to minimise emissions and ensure compliance. Shri Saurabh Diddi, Director of the Bureau of Energy Efficiency (BEE), expressed gratitude to the attendees and partners, including the World Bank and IETA, for their support. He emphasised India’s tech-driven approach to carbon market transparency and acknowledged PwC’s contribution to policy development. The conference featured technical discussions led by global experts, including Shri Ajay Mathur from the International Solar Alliance, Marcos Castro from the World Bank, and former Secretary Leena Nandan. Key topics included carbon market development, compliance mechanisms, carbon credits, and offset strategies. On its second day, Prakriti 2025 will continue with plenary sessions on private sector perspectives, incentivising renewable energy developers, and ecosystem-based interventions for achieving net-zero goals. The event reaffirmed India’s commitment to advancing global carbon markets and sustainable development. (PIB)