India’s First Pollution Market: Inside Gujarat’s Groundbreaking Cap-and-Trade System
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As India continues to battle the world's worst air pollution crisis, a groundbreaking experiment in Surat, Gujarat, is showing signs of hope. A recent study has confirmed that the world’s first particulate emissions trading market, launched in Gujarat in 2019, successfully reduced pollution levels by 20-30%. This initiative, based on a market-driven model, marks a significant shift from traditional regulations to a more flexible, financially incentivised method to combat air pollution.
What is an Emissions Trading Scheme (ETS)?
- An Emissions Trading Scheme (ETS) is a market-based regulatory system designed to reduce air pollution by assigning limits or caps on emissions and allowing trading of permits among polluters.
- It functions on a
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