INDUSTRIES WILL BE ABLE TO TRADE EMISSION PERMITS OF PM 2.5 VERY SOON

For a developed country, the one debate that always remains when considering emission control is the impact it will have on the economic development. To solve this problem in a country like India where industrial development is unavoidable, Niti Ayog is planning to put a cap on PM 2.5 emissions from industries. Under this scenarios there may be industries which which will find it easier to comply with the limits and ones for which it will be challenging. Therefore, they are proposing a trade of emission permits of PM 2.5.
 
Those industries which will be able to reduce more than the desired limit will be able to trade their emission permits to those industries which will not be able to reduce emission to the desired limit. This is going to be a way of ensuring continued economic growth along with emission reduction. It is being proposed that the Central Pollution Board of India (CPCB) will be able to keep a track of the emissions by implementing continuous emission monitoring systems. China has also started carbon trading recently for the same reason.
 
Cap and trade has been used for other GHGs and in other countries to reduce harmful emissions. This seams to be a great way to encourage emission reduction since it involves trade and therefore, competition among industries of various kinds without hampering their growth.
 
Our previous analysis which talks about climate change mitigation and industrial development can be accessed here. The article covering the news about the same can be accessed here