Gujarat Emissions Trading Scheme 2019
In Gujarat Emissions Trading Scheme 2019, the government sets a cap on emissions and allows industries to buy and sell permits in order to stay below the cap. This is similar to a system that successfully reduced acid rain in the United States in the 1990s, the pilot programme was put in place in the city of Surat, a densely populated industrial belt where textile and dye mills contribute to air pollution. As the first market-based approach to regulate pollution emissions in India, it is expected to reduce air pollution at a low cost to both the government and the industry, as well as pave way for replicating similar trading schemes to reduce all kinds of unwanted emissions.