There are moments in one’s professional journey that stand out as unique privileges. Representing Kanaka Management Services at the India G20 Energy Week held in Bangalore in February 2023 was undeniably one such experience. The event gathered industry representatives from various sectors, including energy and manufacturing, all keenly interested in exploring the realm of carbon markets and their potential applications, knowing how their respective organisations could engage in this transformative process. Over the course of three days engaging with professionals and key industry representatives from diverse backgrounds and understanding their curiosity about carbon markets left a lasting impression on me. I was not only able to gain insights and foster meaningful connections that are bound to shape the trajectory of our carbon project development and consultancy services but also get a general pulse and understanding of what was on the minds of market players. These interactions were certainly the highlight of the event. Green Hydrogen to Natural Gas/electric powered heavy vehicle manufacturers, BIO/CNG distributors, solar power plant manufacturers, Wind farm developers, Oil and gas conglomerates, Cookstove manufacturers, Hydro energy developers and large battery manufacturers were just a few of the several sector representatives that I spoke and met with. There were even prominent players like Reliance, Shell, BP and L&T who I managed to have a sit down with.
Engaging in conversations, exchanging contacts, and learning about their project requirements and pilot programs was not just informative but also exhilarating. Through fruitful discussions, I found that their interest was not just passive but deeply driven by a commitment to understanding and embracing carbon markets. Emphasizing the significant role that carbon markets can play in driving sustainable growth across various industries.
The realization that many organizations are keen to enter the realm of carbon markets but often lack a clear starting point echoed throughout these interactions. Their eagerness to contribute to the path to net-zero emissions is palpable, yet a gap in knowledge often poses as the first hurdle on this journey.
This knowledge gap presented an opportunity for Kanaka Management Services to step in as consultants, guiding these organizations toward effective carbon market strategies. We possess the expertise to bridge the knowledge gap and guide these organizations toward effective carbon market programs and projects. It’s not just about offering services; it’s about empowering them to make informed decisions that align with their sustainability goals.
The conference itself was graced by esteemed personalities such as Union Minister of Petroleum & Natural Gas, Shri Hardeep S. Puri, and was inaugurated by none other than the honourable Prime Minister, Narendra Modi. The event showcased an array of stalls from the numerous sectors mentioned above. I even ran into peers from other carbon project development and consultancy firms, including the likes of SouthPole, the shared sentiment revolved around navigating the evolving market landscape while keeping an eye on the impending legislative framework, ‘The Indian Carbon Market Bill’. Which was released as a draft later on the 27th of March 2023 as the ‘Carbon Credit Trading Scheme’ by the Ministry of Power (MoP).
Beyond the wealth of knowledge gained, the conference presented an invaluable opportunity to glean insights into the pulse and direction of the energy sector. It became evident that while the scope for players in the carbon market is immense, hesitancy prevails due to the lingering uncertainties. Organizations are waiting for the enactment of the Carbon Market Bill to gain a comprehensive understanding of the risks and ramifications associated with participating in this transformative market.
One of the most captivating exhibits was the installation by ePrix, introducing the upcoming Hyderabad ePrix. This event serves as the electric equivalent of Formula 1, promising high-speed racing without the emissions associated with conventional motorsports. The showcased track car left a profound impact, offering a glimpse into the future of sustainable motorsports. ePrix’s unique feature, “The Fanboost,” was particularly intriguing. This innovation makes Formula E the only event globally that allows fans to actively influence race outcomes. Through Fanboost, fans can vote for their favourite driver, granting them an extra boost of power during the race. This interactive element creates a sense of involvement and adds a gamified layer to the sport. Which I’m certain we will see more of in other sports as well in the soon-to-near future.
Overall, the India G20 Energy Week provided valuable insights into the energy sector’s demands, aspirations, and future trajectory. Walking away from the three-day event with a bag of insightful takeaways and a pocketful of exchanged business cards, the realization became clear: our role as carbon project developers and consultants is not just about providing solutions but fostering an environment of understanding and collaboration. Our journey in this space involves not only navigating complex market dynamics but also guiding organizations toward a sustainable and impactful engagement with carbon markets.
Leaving the conference, I felt not only informed but also motivated to bridge the knowledge gap and empower companies to embark on their journey toward a sustainable future. As a carbon market professional specializing in project origination and other related skills, I am determined to leverage my expertise to guide organizations in their pursuit of environmental stewardship through effective carbon market strategies
In conclusion, the India G20 Energy Week served as an enlightening juncture in my professional journey. It reinforced the significance of our role as consultants, amplifying the need to educate and guide organizations in their pursuit of sustainability. The journey to a sustainable net-zero future is multifaceted and undoubtedly challenging but with knowledge and collaboration, we can collectively pave the way for a greener and more sustainable future. Events like the India G20 Energy Week reaffirm this collaborative spirit and demonstrate that when it comes to trying to save the planet, we are not alone.