Reducing particulate pollution through the power of markets
An unprecedented collaboration that proves it’s possible to reduce pollution, enhance profitability, and deliver vital health benefits to the people of India.
Minister of Forest & Environment, Government of Gujarat
Gujarat has been a flagbearer of taking innovative initiatives to ensure a balance between economic development and environment preservation. The Emissions Trading Scheme for Particulate Matter, the first in the world for PM emissions, is one of the examples of the unique initiatives being taken by the Government of Gujarat to contain its emissions.
Member of Parliament
The Gujarat government has started the world’s first emissions trading scheme for industries. Those industries which pollute less can sell emission caps and big industries which pollute more can buy those caps. This enables smaller industries to make a profit. I congratulate the Gujarat government for taking these steps.
Founder & CEO, Rethinking Public Policy
The scheme is a departure from the traditional command and control approach to environment regulation. The past approach failed to curb emissions and instead bred a culture of non-compliance among companies. The pilot’s success could lead to the adoption of market-based approaches in tackling India’s other environmental challenges.
The Henry J. Heinz II Professor of Economics; Director, Economic Growth Center at Yale University
The implementation of the pilot ETS demonstrates remarkable foresight and imagination from Indian regulators and industry who are now using cutting-edge technology and economic techniques to balance the twin objectives of economic growth and air quality improvement.
Milton Friedman Distinguished Service Professor in Economics; Director, Energy Policy Institute at the University of Chicago