A recent study found that the Surat Emissions Trading Scheme (ETS) reduced air pollution by 20–30% and helped industries lower compliance costs. Surat Emissions Trading Scheme (ETS) was launched in 2019 in Gujarat and is the world’s first market to trade in particulate matter emissions. It aims to control air pollution using a cap-and-trade system. Each industry is given a pollution limit, and those that pollute less can sell their extra permits to others who exceed the limit. This system is similar to those used in Europe for greenhouse gases and in China for carbon emissions. Industries trade permits through a platform run by National Commodities and Derivatives Exchange e-Markets (NeML).
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