New Delhi, Feb 27 (KNN) India’s export sector, particularly in steel, aluminium, and other high-emission industries, is set to face challenges due to the European Union’s Carbon Border Adjustment Mechanism (CBAM), warned Thomas Kerr, Lead Climate Change Specialist at the World Bank.

Speaking at PRAKRITI 2025, an international conference on carbon markets, Kerr emphasised the need for Indian businesses to align with global carbon pricing policies.

“The European Union’s CBAM will impact Indian exports, particularly in steel, aluminium, and other high-emission industries. This calls for urgent action in domestic carbon markets,” Kerr stated.

He underscored that India’s carbon market does not function in isolation and is influenced by international climate policies.

PRAKRITI 2025, organised by the Bureau of Energy Efficiency under the Ministry of Power and the Ministry of Environment, Forest and Climate Change, served as a key platform for discussions on global carbon market trends.

The conference, held from February 24-25, was inaugurated by Power and Housing and Urban Affairs Minister Manohar Lal.

A fireside chat featured Dia Mirza, Actor and UN National Goodwill Ambassador, who advocated for the elimination of single-use plastic and encouraged youth engagement in climate action.

“Big change will only occur when it starts from the top down because behaviors sometimes take hundreds of years to change,” she noted, praising India’s LiFE (Lifestyle for Environment) initiative.

Additionally, former Finance Secretary Ashok Lavasa delivered a thematic address on governance and transparency in climate finance.

He highlighted the importance of strong MRV (Monitoring, Reporting, and Verification) frameworks and strategic market alignment for India’s success in the carbon economy.

As India navigates evolving global carbon policies, experts stress the urgency of proactive adaptation to mitigate trade impacts and ensure sustainability in high-emission industries.

(KNN Bureau)