Detailed project report: pilot emissions trading schemes in Gujarat, Maharashtra and Tamil Nadu
Piloting an ETS will enable the Ministry of Environment & Forests to cap total pollution emissions in select areas and increase regulatory transparency and accountability. The pilot emissions trading scheme will be rolled out as a randomized-controlled trial to enable rigorous evaluation. Such an evaluation will provide gold-standard evidence on the environmental and economic benefits of the scheme. Pollution emissions will be measured in real time using continuous emissions monitoring, and economic adjustments will be measured with regular unit surveys. Backed by this evidence, the pilot scheme will provide a model for expansion within India and a framework for implementing global environmental policy.