Gujarat, India plans cap-and-trade market for carbon emissions
This press release was originally published by the Energy Policy Institute at the University of Chicago.
The market will be the first of its kind among emerging economies, outside of China. Leading researchers from the University of Chicago, Yale, and J-PAL will help design the program, allowing Gujarat to tap global expertise.
To encourage an energy transition and ensure climate-friendly economic growth, the Government of Gujarat, India is planning to implement a cap-and-trade market for carbon emissions from large sources. The market will allow industries and power plants in the state to trade CO2 permits and an overall cap will provide the government a flexible tool to meet climate goals. The market will be the first of its kind among today’s emerging economies, outside of China.