Policymakers, industry leaders, and researchers convened in New Delhi on Monday for the Prakriti 2025 conference, focusing on leveraging carbon markets to combat climate change and promote sustainable development. Union Minister for Power and Housing & Urban Affairs, Manohar Lal, inaugurated the event, emphasizing the government's commitment to integrating carbon markets into national climate policy.

Organized by the Bureau of Energy Efficiency under the Ministry of Power, Prakriti 2025—Promoting Resilience, Awareness, Knowledge, and Resources for Integrating Transformational Initiatives—aims to foster dialogue on innovative approaches to carbon trading and emissions reduction. The conference underscores the critical role of carbon markets in achieving emissions targets and transitioning away from fossil fuels.

In his opening remarks, Minister Manohar Lal highlighted the importance of renewable energy adoption and effective climate policies. "The use of renewable energy, such as solar rooftops, exemplifies our shift towards a greener future," he stated, urging stakeholders to collaborate in developing robust carbon market mechanisms.

The conference features sessions on various aspects of carbon markets, including regulatory frameworks, technological innovations, and financing mechanisms. Experts discuss the potential of carbon trading to incentivize emission reductions and support sustainable projects. The event also provides a platform for sharing best practices and lessons learned from global carbon market implementations.

Parallel to Prakriti 2025, countries are meeting in Rome from February 25-27 to discuss securing $200 billion annually for global biodiversity conservation efforts. This initiative follows the 2022 Kunming-Montreal Global Biodiversity Framework, aiming to halt nature loss by 2030. Discussions focus on alternative funding sources, such as development bank loans, domestic resources, and private sector contributions, given the reluctance of wealthier nations to provide grants.

The Rome meeting also addresses the redirection of $500 billion spent on environmentally harmful subsidies towards nature-friendly projects. The potential creation of a new fund or utilization of existing ones remains a contentious issue among participants.

These concurrent events reflect a growing global emphasis on financial strategies to address environmental challenges. The integration of carbon markets and substantial biodiversity funding are seen as pivotal steps towards achieving international climate and conservation goals.

As the Prakriti 2025 conference progresses, stakeholders are expected to outline actionable plans for implementing carbon market mechanisms within their respective jurisdictions. The outcomes of these discussions will contribute to shaping the future of global carbon trading and its role in mitigating climate change.

The conference also serves as a precursor to the upcoming Global Carbon Markets Conference 2025, scheduled to take place in Barcelona, Spain. This event aims to further the dialogue on carbon markets and explore opportunities for international collaboration in emissions reduction efforts.