In line with Prime Minister Narendra Modi’s commitment to achieve net-zero emissions by 2070, the Gujarat government has signed an MOU with Energy Policy Institute, University of Chicago and JPal of South Asia with the aim of becoming the first state in the country to set up a carbon market.

The MOU (memorandum of understanding) was signed in the presence of Gujarat Chief Minster Bhupendra Patel and state energy minister Kanubhai Desai. In a statement, the government said it believes new investments will come in large numbers in Gujarat and that it will become a leading example for the nation in the field of CO2 market.

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