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Answer

Correct Option is Gujarat

Gujarat government has launched what is being described as the world’s first market for trading in Particulate Matter (PM) emissions. Launched in Surat, the Emissions Trading Scheme (ETS) is a regulatory tool that is aimed at reducing the pollution load in an area and at the same time minimising the cost of compliance for the industry. ETS is a market in which the traded commodity is particulate matter emissions. The Gujarat Pollution Control Board (GPCB) sets a cap on the total emission load from all industries. Various industries can buy and sell the ability to emit particulate matter, by trading permits (in kilograms) under this cap. For this reason, ETS is also called a cap-and-trade market. While trading mechanisms for pollution control do exist in many parts of the world, none of them is for particulate matter emissions. E.g. the CDM (carbon development mechanism) under the Kyoto Protocol allows trade in ‘carbon credits’; the European Union’s Emission Trading System is for greenhouse gas emission; and India has a scheme run by the Bureau of Energy Efficiency that enables trading in energy units.

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