Rapid Fire
PRAKRITI 2025
- 26 Feb 2025
- 2 min read
The PRAKRITI 2025 (Promoting Resilience, Awareness, Knowledge, and Resources for Integrating Transformational Initiatives), the International Conference on Carbon Markets, organized by the Bureau of Energy Efficiency (BEE), united global experts to discuss carbon market challenges and opportunities.
- Insights of PRAKRITI 2025: Highlighted that India’s Carbon Market is influenced by global policies like the EU’s Carbon Border Adjustment Mechanism (CBAM), impacting steel, and high-emission sectors. Urgent domestic reforms are needed to mitigate these effects.
- EU’s CBAM: It imposes a fair carbon price on imports, ensures parity with EU-produced goods, and promotes cleaner industrial production globally.
- Carbon Markets: Carbon markets (trading systems), under Article 6 of the Paris Agreement, allow entities to buy carbon credits to offset emissions by supporting projects that reduce or remove greenhouse gases.
- India’s Carbon Markets: India ranks 2nd in global CDM (Clean Development Mechanism) project registrations.
- The Perform, Achieve and Trade (PAT) scheme has saved over 106 million tonnes of CO₂ since 2015. The carbon market in India is regulated by the BEE.
- BEE: Established in 2002 under the Energy Conservation Act, 2001, BEE operates under the Ministry of Power and aims to reduce India's energy intensity by developing policies, promoting self-regulation, and coordinating with stakeholders.
| Read more: Rise of India's Carbon Marketplace |
