Climate change has become an existential threat to both the environment and human societies. It has no boundaries, and its impacts are already being felt across the globe. The impacts of climate change on nature (PRAKRITI (प्रकृति) in Hindi) are profound, complex, and wide-reaching. The time to act is now—climate change is not only a challenge but also an opportunity to create a more sustainable and equitable world.

To address the challenge of climate change, countries across the globe have defined their Nationally determined contributions (NDCs) goals under the Paris Agreement. The Government of India took the initiative to facilitate the achievement of India’s enhanced NDC targets in cost effective manner. For that, the Bureau of Energy Efficiency (Bureau) under the guidance of Ministry of Power (MoP) and Ministry of Environment Forest, and Climate Change (MoEFCC) has established the national framework for the Indian Carbon Market (ICM) with an objective to decarbonize the Indian economy by pricing the GHG emission through trading of the carbon credit certificates. The carbon market will enable active participation of the public and private stakeholders in decarbonization efforts, in potential sectors.