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India’s first trading programme to combat particulate air pollution
June 10 , 2019
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- Gujarat Chief Minister Vijay Rupani launched India’s first trading programme to combat particulate air pollution on World Environment Day 2019.
- The programme is a market-based system where the government sets a cap on emissions and allows industries to buy and sell permits to stay below the cap.
- Under the cap and trade system, the regulator first defines the total mass of pollution that can be put into the air over a defined period by all factories put together.
- Then, a set of permits is created, each of which allows a certain amount of pollution, and the total is equal to the cap.
- These permits are the quantity that is bought and sold.
- Each factory is allocated a share of these permits (this could be equal or based on size or some other rule). After this, plants can trade permits with each other, just like any other commodity.
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