India’s Carbon Market: A New Era in Climate Strategy

India's burgeoning carbon trading framework promises to translate climate ambitions into tangible economic outcomes, according to former MNRE secretary Bhupinder Singh Bhalla. Speaking at FICCI's India Energy Transition Summit, Bhalla emphasized that carbon markets could become the cornerstone of India's transition strategy by drawing substantial private investment to bridge the financing gap required for net-zero targets.

The Central Electricity Authority Chairman, Ghanshyam Prasad, noted that India's carbon trading platform is expected to go live by September. He highlighted its role as a pivotal force in driving the renewable energy transition.

Echoing this sentiment, Narendra Bhooshan, Additional Chief Secretary of UPNEDA, underscored that Uttar Pradesh is quickly advancing in renewable energy, attributing progress to the effective implementation of central government policies.