Open Access Research Article
EMISSION TRADING RIGHTS IN INDIA
Published Paper
Article Details
EMISSION TRADING RIGHTS IN INDIA
AUTHORED BY - SANGEETA
DUTTA
SCHOOL OF LAW
CHRIST (DEEMED TO BE
UNIVERSITY), DELHI NCR
ABSTRACT
“While We Need Robust
Regulations, We Need Lesser Regulators”[1]
In the era of rising
concerns for climate change and excessive greenhouse gas emission, emission
trading system is playing a major role in providing satisfactory solutions
worldwide. Implementation of emission trading system will provide for a
prominent policy instrument in fulfilling India’s international environmental
obligations. India has started taking the first step towards it by making a
bill for the formation of carbon markets in India under Energy Conservation
(Amendment) Bill, 2022.
The research commences by
understanding the concept of emission trading and the historical evolution of
the concept. It subsequently attempts to explain various mechanisms of emission
trading. Furthermore, it explains India’s obligations as a member party of
Kyoto Protocol. The study then assesses the efficacy and experiences of already
existing systems of emission trading systems in various countries. Also, study
the international impact of establishing India’s own carbon market.
Furthermore, this research studies the provisions of the Energy Conservation
(Amendment) Bill, 2022, that has recently been introduced in India.
KEYWORDS: Carbon Credits, Carbon
Markets, Emission Trading System, Environmental policy making, Global Economic
Growth, Kyoto Protocol, Law and Economics.
INTRODUCTION
Emission trading system
(hereinafter ETS) is the newly added member of environmental sustainability
plan worldwide, it basically proposes to setup a carbon market which will
provide permits to the carbon emitting industries and in return they will earn
carbon credits. Emission trading rights allows a firm to trade their rights in
exchange of emitting pollutants in the air. Herein, carbon credits are treated
as a commodity and the reduction in the carbon emission is the amount payable
for the purchase of the commodity, which can be measured by calculating the
actual cost incurred by the industry in reducing their carbon emission from
their previous year by improving their cost of production.
The idea was first
explored in the form of ‘Command and Control’ approach which suggested measures
and techniques that must be practised by the industries to control pollution,
later on this approach was replaced by the ‘Cap and Trade’ approach which would
set a cap on allowable emission and permits would be traded out to the
industries. Article 17 of the Kyoto Protocol mentions that [2]“The
Conference of the Parties shall define the relevant principles, modalities,
rules and guidelines, in particular for verification, reporting and
accountability for emissions trading. The Parties included in Annex B may
participate in emissions trading for the purposes of fulfilling their
commitments under Article 3. Any such trading shall be supplemental to domestic
actions for the purpose of meeting quantified emission limitation and reduction
commitments under that Article.” Hence, it obliges the member parties to
either set up their own domestic carbon market or buy the permits from other
countries which have excess capacity. In current European Union has the largest
carbon market prevalent worldwide.
When the economy grows, the supply of carbon pollutants increases as well
because the polluters do not have the emission ceiling and they can keep on
polluting the environment but when a ceiling has been set then even when the
economy grows, the demand for emission rights increases but due to the ceiling
on the level of pollution, the supply for such rights remains constant. Hence,
the external costs of climate change are then internalised by increasing the
cost of production, so the actual cost of a particular pollutant firm remains
the same and it might even get lesser by adopting the mechanisms and
guidelines.
Currently, India has taken
its first step towards fulfilling its obligation towards this international
protocol by introducing the Energy Conservation (Amendment) Bill, 2022 which
suggests that India shall set up its own domestic carbon market and start its
journey with the ‘Cap and Trade’ approach to control pollution from the
excessive industrialisations.
RESEARCH DESIGN
A. RESEARCH PROBLEM
India is obliged to establish an ETS
in India in accordance with the conditions mentioned in the Kyoto Protocol, but
it has many key components associated with it which makes the implementation a
complex process. The most suitable approach must be determined so that it
compliments with the economic and political scenarios of India.
B. RESEARCH QUESTIONS
1. What is Emission trading
and how it will help India in reducing carbon emissions?
2. What are the components of
ETS in India?
3. What are the contents of
Energy Conservation (Amendment) Bill, 2022 and how it will comply with the
Economic and Political background of India?
C. RESEARCH OBJECTIVES
1. To quantify carbon
emission in India per year and trace the role of ETS in India.
2. To examine the components
of ETS.
3. To examine the contents of
the Energy Conservation (Amendment) Bill, 2022 and its effect on the economic
and political background of India.
D. LITERATURE REVIEW
1.
E.J.L. Chappin and G.P.J. Dijkema.[3]
The author in this article has mainly
focussed on the impact of CET implementation in the power generating sector in
Europe. Firstly, they introduced the new carbon emission trading (CET) policy
implemented in EU in accordance with Kyoto protocol. Herein they have discussed
how this policy intends to regularise the highest carbon emitting sector, in
the power generation sector, electricity generation alone is responsible for
one third of the carbon emission in Europe. They mentioned about the
“agent-based model” that has been effectuated in Europe and they have reported
as to how this particular system would operate and would simplify the
implementation cost and complications on a long-term basis. In order to compare
CET and No-intervention strategy, they have included statistical quantification
methods to try simulation runs on both the methods with an equalized period of
75years each. The literature gap present in this article shows that they have
only considered a particular sector in Europe for their research. They have
neither included other sectors like mining and quarrying sector or chemicals
and petrochemicals sectors, nor they have discussed the carbon emission trading
of other countries.
2.
Subrata Gorain et. al.[4]
The author in this article have mainly
focused on the emissions from Greenhouse gases and how much India have
contributed to the total world’s emission. Later on they have emphasized on the
carbon emissions from Indian agricultural sector due to the practice of burning
of the crops in parts of Haryana, Bengal, Bihar, Madhya Pradesh, Himachal Pradesh,
Maharashtra, Gujarat Chhattisgarh, Jharkhand, Tamil Nadu, Uttaranchal and
Karnataka. Further, they have introduced an econometric model to determine the
effect of carbon trading. The literature gap in this article is that they have
not mentioned about the Energy Conservation (Amendment) bill, which has
recently been introduced in both the houses of the parliament, but the assent
of the president is awaited.
3.
Esther Duflo et. al.[5]
The authors have explained the ETS and
how it could benefit India in reducing pollution emission at low overall cost.
They have suggested various ways and key components to achieve the ETS with
reference to the Indian background. Thereafter, they have suggested different
methods to implement these theories and turn them into reality while comparing
the already existing systems of EPA in countries like U.S, Chile, European
Union, Singapore and Canada, while stressing on the basis of purpose, emission
cap, implementation, trading, monitoring, commodity, period and outcome. They
have used various statistical data and graphs to suggest how this scheme can be
beneficial as well as necessary and feasible for India. Here, the literature
gap is that it has not mentioned the recent bill introduced in August,2022, The
Energy Conservation (Amendment) Bill, 2022, which seeks to implement a carbon
market system in India.
E.
HYPOTHESIS
1. The implementation of ETS
is the best suitable approach for India.
2. The introduction of ETS
will help India in achieving the conditions of Kyoto Protocol.
3. The Energy Conservation
(Amendment) Bill, 2022 will ensure the proper implementation of ETS in India.
F.
RESEARCH METHODOLOGY
This is a non-doctrinal research, which is mainly
qualitative in nature, but it may contain quantitative elements for data
analysis purpose. This study will adopt secondary data from sources like
government emission reports and various international organisation data and
from various other reliable sources.
KEY PROCEDURES OF ETS
There are several key components involved in the process of establishing a
carbon market. These components are such which will be the blueprint for the
desired results and they are lined up in such a manner so that the process
could be more efficient and effective.
1.
Determination of pollutants: The
first and the foremost component suggests that any particular country wanting
to establish carbon markets shall first determine the pollutants that has the
adverse impact on the environment of the country. The various kinds of air
pollutants discovered so far are Carbon Monoxide (CO), Sulphur Dioxide (SO2),
Nitrogen Dioxide (NO2), Carbon Dioxide (CO2), Ozone (O3),
Particulates (PM), Lead (Pb), NOx etc. “In India the prominent air
pollutants causing ruckus are PM10, NO2, CO, and O3,
the only pollutant to comply the national standards is SO2.”[6]
Hence, the abovementioned identified pollutants can be taken as the determined
targeted pollutants for India.
Table
1: Indian National Air Quality Standards (units: ?g/m3 unless
mentioned otherwise)
|
Pollutant
|
SO2
|
NO2
|
PM2.5
|
PM10
|
O3
|
CO (mg/m3)
|
Pb
|
NH3
|
||
|
Averaging time (hr)
|
24
|
24
|
24
|
24
|
1
|
8
|
1
|
8
|
24
|
24
|
|
Standard
|
80
|
80
|
60
|
100
|
180
|
100
|
4
|
2
|
1
|
400
|
Source: CPCB (2015).[7]
2.
Setting emission ceiling:
This is the most important component as this part would later decide the
outcome of this project, setting the cap would require focus on the intrinsic
details to air pollution. The cap so set should be such which neither increases
the cost of productions of the firms and nor should it result in negligible
emission reductions as the main goal of our project is to make a win-win
situation for all the parties involved. There are two ways in which we can
ensure the effective cap setting, they are average emission cap and ambient
targets. The average emission cap first collects the emission data for the last
10 years and the average of them all becomes the ceiling for the next 5 years
and thereafter the reduced average of the next 10 years would constitute the
cap for the next five years and this procedure would keep on evolving. This
method best suites for the experimental trials as this would help ignite an
easy procedure and agreed parties to the project as a sudden extremely reduced
cap would lead to the distress of the industries and the resultant can be
disagreements and protests. But this method can also have the disadvantage as
the historical baseline were mainly set by the industries based on their
preferences and so as to reduce the baseline would take years to reach its
targeted form. The second method is the ambient targets which involves the
local data of emission sources and their relation to the ambient targets. “As
an example of this method, suppose that industry is responsible for 50% of
particulate emissions and transport the other 50%. The current total level of
emissions is 100 tonnes and it is estimated that emissions of 60 tonnes would
yield the desired ambient level of air quality. Then the cap introduced for
industry would be 30, a reduction of 20 from the baseline level.” [8] This method can prove to be
very efficient in reducing pollution in a very short span of time as it sets
broad targets based on ambient standards. However, the linkage of emission to
various sources and ambient pollution concentration would require the monitoring
system established for this project to be used even before the setting of the
cap or even Central Pollution Control Board (hereinafter CPCB) can provide most
of the information therein required.
Figure
2: Ambient Air Quality Monitoring Data for The Year 2020
Source:
CPCB (2020).[9]
3.
Implementation: The proper implementation of the ceiling
would be the complexities involved for the industries as compliance to these
procedures would prove to be an investment for them and for which the return of
investment would not be gained in the recent future. Hence, implementation can
be a big blow to them if not properly done and considering the risks involved
in their part. So, it is suggested that the initial emission permits shall be
distributed free, working as an incentive and encouragement given to the industries
to invest in this project. This strategy has been used by the countries having
already existing systems of carbon markets. Otherwise, for a developing country
having limited budget can send an invitation for auctioning the permits by the
SPCB of each state and thereby distributing the permits in accordance with the
ceiling priorly set. This strategy glorifies the principle of “polluter pays
the price” abided by the Indian judiciary. The idea was first discovered by
Ronald Coase in his theoretical work that was recognized with a Nobel Prize in
Economics (Fowlie and Perloff, 2008).
4.
Trading: This step
would determine the value of the permits, how many units of pollution and the
validity time period it will cover in a single permit so traded. “The permit
should be a commodity with a value that industry can easily measure to
encourage trading. The U.S. example of a permit being equivalent to 1 tonne of
SO2 is a good benchmark. Permits are based on the total quantity of emissions,
rather than their concentration.”[10] The validity period shall be for
a short duration for the ease of emission monitoring and after every. The
carbon permit shall function for emitting industries just how the driving
license works for any individual, new permits shall be provided only when the
previous permits are handed back and they matched with the permitted units of
pollution. The SPCB of each state shall
be made responsible for the regulation of permits for which the rules would be
provided by the CPCB. Fines can be levied on the industries not complying with
the rules. The price of the permits shall be determined on the market price
determinants (demand and supply) and too much government intrusion should not
be permitted. Carbon credits can be provided to those industries having been
complying to the rules and successfully reducing their emissions to 50% as this
can be their return of investment as well as an incentive to further reduce
their emission and be a role model for other of the kind.
5.
Monitoring: This process
involves monitoring emissions of each and every permit holding industries and
maintaining the data of it. This is an executive part of the project wherein we
will continuously monitor the permit holders and also make decisions for the
future implementation of carbon markets. Under N.A.M.P., four air pollutants
viz., Sulphur Dioxide (SO2), Oxides of Nitrogen as NO2,
Respirable Suspended Particulate Matter (RSPM / PM10) and Fine
Particulate Matter (PM2.5) have been identified for regular monitoring
at all the locations.
Figure
2: Sector-wise trends in CO2 emissions from energy use (energy-CO2 emissions)
in India.
The above shows the emission levels of
different sectors in India, wherein we can see that the power and industry
sector needs the highest levels of monitoring and by maintaining such data, we
can vary the price of permits depending on the sector they are involved in,
sector having highest emission would have to incur high rates of permits
followed by other sectors having lesser emission rates. So, we see the
monitoring part is an essential part as it would further determine the future
strategies for the same.
6.
Outcome: The outcome
shall be analysed and recorded and further them to the government for review.
Although the immediate outcome will not be satisfactory but the near future can
definitely show the targeted achievements of this initiative.
KYOTO
PROTOCOL
Kyoto protocol was adopted on Dec 11, 1997 and it came onto force since Feb
16, 2005, which is a part of United Nations Framework Conventions on Climate
Change (hereinafter UNFCCC) and targets the reduction of greenhouse gases
within the economies of the agreed parties to the convention mentioned in the
annex. “In its Annex B, the Kyoto Protocol sets binding emission reduction
targets for 37 industrialized countries and economies in transition and the
European Union. Overall, these targets add up to an average 5 per cent emission
reduction compared to 1990 levels over the five-year period 2008–2012 (the
first commitment period). In n Doha, Qatar, on 8 December 2012, the Doha
Amendment to the Kyoto Protocol was adopted for a second commitment period,
starting in 2013 and lasting until 2020. One important element of the Kyoto
Protocol was the establishment of flexible market mechanisms, which are based
on the trade of emissions permits. Under the Protocol, countries must meet
their targets primarily through national measures.”[12]
Although India
has been pardoned from the commitments as we are a developing nation and our
contribution in the total carbon emission is quite trivial, but being a part of
the UNFCCC and the world at large obliges us to reduce even the slightest of
the reductions. As the saying goes a single drop can be turned into a cup, and
from a cup into seas, even the slightest efforts from India can help enhance
the ambience of the earth.
The Kyoto protocol has provided its member countries with three mechanisms,
namely, International Emission Trading, Clean Development Mechanism (CDM) and
Joint Implementation (JI). They suggest that these mechanisms should be adopted
in both national as well as regional level. They have also suggested that the
developing countries lacking sufficient finance can even export the emission
trading rights from countries having an already existing system of carbon
markets. India being a part of the UNFCCC requires it to comply with the
targets set by them. The concept of emission trading introduced also mandates
the requirement a rigorous monitoring system within the country to analyse the
impact of the ETS. Hence, it’s our duty to protect the environment in unison
with the other environs.
COMPARATIVE
STUDY OF VARIOUS NATIONS
|
COUNTRIES
|
SECTOR
|
CAP
|
GHG
|
ALLOCATION
|
ALLOWANCE
PRICE
|
TOTAL
REVENUE
|
|
AUSTRIA
|
power,
industry,
buildings,
transport,
agriculture
|
No
cap
|
Several
gases
|
Fixed
price until 2025; auctioning
|
EUR
30 (USD 31.59)
|
Estimated
EUR 250 million (USD 263 million)
|
|
CHINA
|
power
|
~4,500
MtCO2
|
CO2
|
Benchmarking
|
CNY
55.30 (USD 8.20)
|
|
|
EUROPEAN
UNION
(All
EU Member States, plus Iceland, Liechtenstein and
Norway
(plus power generators in Northern Ireland)
|
Power,
industry, aviation
|
1,529
MtCO2e
|
CO2,
N2O, PFCs
|
Auctioning
Benchmarking
|
EUR
78.91 (USD 83.10)/
EUR
80.82 (USD 85.11)
|
EUR
38.8 billion3(USD 40.8 billion) in 2022
|
|
GERMANY
|
Transport,
buildings
|
291.1
MtCO2
|
CO2
|
Fixed
price until 2025, auctioning
|
EUR
30 (USD 31.58)
|
EUR
6.4 billion (USD 6.74 billion)
|
|
KAZAKHSTAN
|
Power
oil & gas, industry
|
163.7
MtCO2
|
CO2
|
Benchmarking
|
KZT
563 (USD 1.22)
|
|
|
MEXICO
|
Power,
industry
|
273.1
MtCO2
|
CO2
|
Grandparenting
|
MXN
0 (USD 0)
|
|
|
MONTENEGRO
|
Power,
industry
|
3.2
MtCO2e
|
CO2
|
Grandparenting,
Benchmarking, Auctioning
|
|
|
|
NEW
ZEALAND
|
Power,
industry, aviation, transport, building, forestry, wastes
|
32.2
MtCO2e
|
CO2,
CH4, N2O, SF6, HFCs, PFCs
|
Benchmarking
Auctioning
|
NZD
75.88 (USD 48.11
|
NZD
2 billion (USD 1.3 billion)
|
|
KOREA
|
Power,
industry, transport, building, aviation, waste
|
589.3
MtCO2e
|
CO2,
CH4, N2O, HFCs, PFCs, SF6
|
Grandparenting,
Benchmarking, Auctioning
|
KRW
23,243 (USD 17.99)
|
KRW
317.1 billion (USD 245.4 million)
|
|
SWITZERLAND
|
Power,
industry aviation
|
4.5
MtCO2e
1.2
MtCO2e (aviation)
|
CO2,
NO2, CH4, HFCs, NF3, SF6, and PFCs1
|
Benchmarking
Auctioning
|
EUR
76.49 (USD 80.55)
|
EUR
43.6 million (USD 45.9 million)
|
|
UNITED
KINGDOM
|
Power,
industry, domestic aviation
|
147.2
MtCO2e
|
CO2,
N2O, PFCs
|
Benchmarking
Auctioning
|
GBP
75.42 (USD 92.96)
|
GBP
6.1 billion (USD 7.6 billion)
|
Source:
ICAP Status Report (2023)[13]
European Union is the largest ETS, having successfully cooperated the
system within the members of European Union as well as other added members
importing the emission trading rights from them. This system operates at every
level that is 6 cities, 20 states & provinces, 10 countries and 1
supranational. Almost the whole world either have in force ETS (28) or they are
under development (8) or under consideration (12). Now in 2023 almost 17% of
GHG are covered by the ETS. This system has helped the countries earn a greater
share of revenue while reducing the fossil fuel dependency, and that is the
future gain we have been anticipating for India.
ENERGY
CONSERVATION (AMENDMENT) BILL, 2022
In the year 2010 the ETS first
curved its way into the columns of the esteemed journal of Centre for Energy
and Environmental Policy Research, in the name of “Towards an Emissions
Trading Scheme for Air Pollutants in India” written by Esther Duflo,
Michael Greenstone, Rohini Pande and Nicholas Ryan. [14]Which
was later turned into a discussion paper for the Ministry of Environment &
Forest, Indian Government by the name of “Towards an Emissions Trading
Scheme for Air Pollutants in India: A Concept Note”.[15]
Later in 2021, Bureau of energy efficiency of India presented a blueprint
for the construction consideration of national carbon market which included
both the aspects of carbon ceiling as well as carbon credits. In view of all
the earlier articles and proposals the Lok sabha of India adopted the Energy
Conservation (Amendment) Bill on July, 2022. Passed by the Rajya sabha, it
still awaits the president’s consent. The main aim of the bill is to further
amend the Energy Conservation Act of 2001.
The statement of object and reasons were amended by adding 3(ii), (iii) and
5(b), wherein they introduced the concept and the need of establishing carbon
market. Section 2(da) and (db) defines the terms “carbon credit certificate”
and “carbon credit trading scheme”, section 2(qa) defines registered entity as
“means any entity, including designated consumers, registered for carbon credit
trading scheme specified under clause (w) of section 14.” In section 14(w) of
the bill would specify the carbon credit trading scheme, in section 14A was
amended by adding a proviso mentioning “Provided that any other person may also
purchase energy saving certificate or carbon credit certificate on voluntary
basis.”. Section 14AA suggests that the appointed authority shall issue carbon
credit certificates to the registered entities complying by the standard
mentioned under the said act and such entities shall be permitted to sell the
carbon credit certificate, but in accordance with carbon credit trading scheme
mentioned under the bill.
The lacunae in the bill are the undisclosed picture of carbon credit
trading scheme.
“With the passing of the Bill in Lok Sabha paving way for carbon markets in
India, also came an announcement from the Hon’ble Cabinet Minister (Power, New
& Renewable Energy), reported in the news, “Carbon credits are not going to
be exported. No question. These credits will have to be generated by domestic
companies, bought by domestic companies.” The ban has not been made effective
yet and the details of the ban are not known.”[16]
According to the report issued by International Carbon Action Partnership, “the
voluntary market is expected to enter into force by July 2023, followed by the
compliance market. According to current plans, the first compliance cycle would
begin in 2024. The BEE is preparing a framework document on the Indian carbon
market with further details which is expected to be published in the first
quarter of 2023. On the state level, in May 2022 the government of Gujarat
declared its intention to implement a cap-and-trade scheme. The proposed
subnational carbon market is set to cover emissions from large industrial and
power sector sources in the state. Details are currently being developed by the
Gujarat authorities, with assistance from researchers from the University of
Chicago, Yale University, and Abdul Latif Jameel Poverty Action Lab.”[17]
CONCLUSION
In conclusion, it is worth mentioning the words of the father of the
nation, Mahatma Gandhi “The earth provides enough to satisfy every man’s
needs, but not for every man’s greed.” In our journey toward emission
trading these words serves as the alarm of the delicate balance we must strike
between environmental protection and economic growth of the nation.
The hypothesis given by Ronald Coase in his tradable permits theorem forced
the economists as well as policy makers to review their concepts and see things
from a different perspective, from there the concept of ETS emerged and now it
has developed into a full-fledged premise showing the results it had promised
in the beginning. India just like its venerable constitution can scoop up the
best strategies of each ETSs around the world and thereafter make amendments to
establish a versatile system which would better survive the economic and
political conditions of the country. But what we rather did not see is the
predicament of the small business sectors and the other domestic industries
which are yet in a developing stage. They might not have the sufficient
financial background to comply with the ETS requirements which may demand the
usage of high-tech machineries and other advanced technologies. Although the
government has taken many initiatives to promote the domestic industries of
India, however, ETS can prove to be a big blow to their survival amongst the
MNC’s, which would then destroy the resolutions of the government.
Giving theory is always rather easy than actually executing the same, ETS
execution can be a lot more challenged as it might demand a change to the
already existing policies related to environment, industrialisation and
globalisation, the integration of all the related policies would require some
compromise from each member and thereon, form a family. Moreover, the research
has shed light on the vital requirement of an effective and efficient air
quality monitoring system and verification mechanisms which would ensure the
proper functioning of the national ETS.
As we venture on the journey of the greener and equitable India, we have to
traverse various hurdles to reach the aimed destination and strive a harmonious
coexistence with our ecosystem. The path to effective emission trading rights
is a moral and ethical responsibility that transcends borders and generation.
[1] Esther Duflo ET. AL, Towards an Emissions Trading Scheme
for Air Pollutants in India: A Concept Note, India Environment portal, (Aug. 24, 2010), http://www.environmentportal.in/files/towards-an-emissions-trading-scheme-for-air-pollutants.pdf.
[2] Kyoto Protocol to the United Nations
Framework Convention on Climate Change, Dec. 10, 1997, 2303 U.N.T.S. 162.
[3] E.J.L. Chappin and G.P.J. Dijkema, On the Impact of CO2
Emission-Trading on Power Generation Emissions, 76 Tech. Forecasting and Social Change 358, 370 (2009), https://www.sciencedirect.com/science/article/abs/pii/S0040162508001443.
[4] Subrata Gorain ET. AL., An Analysis of Carbon Market
and Carbon Credits in India, 39(2)
Asian Journal Of Agricultural Extension, Economics & Sociology 40,
49 (2021) https://www.researchgate.net/publication/350379169_An_Analysis_of_Carbon_Market_and_Carbon_Credits_in_India.
[5] Esther Duflo ET. AL., Towards an Emissions Trading Scheme
for Air Pollutants in India, MIT
Center for Energy and Environmental Policy Research, (2010-08) https://dspace.mit.edu/handle/1721.1/59465.
[6] Navroz K Dubash, Air pollution in Indian cities:
Understanding the causes and the knowledge gaps, Centre for Policy and Research (Nov. 15, 2023, 4:54 PM), https://cprindia.org/air-pollution-in-indian-cities-understanding-the/.
[7] Cpcb, National Air Quality Index, Central Pollution Control Board (2015), https://cpcb.nic.in/displaypdf.php?id=bmF0aW9uYWwtYWlyLXF1YWxpdHktaW5kZXgvRklOQUwtUkVQT1JUX0FRSV8ucGRm.
[11] Manisha
jain, Carbon dioxide emissions from India’s industries: Data sources
and discrepancies, Ideas for India
(2022), https://www.ideasforindia.in/.
[13] ICAP,
Emissions Trading Worldwide: 2023 ICAP Status Report, International Carbon Action Plan, (Mar.
22, 2023), https://icapcarbonaction.com/.
[16] Payal Agarwal, Emission law amendments: Laying the framework for
Carbon trading market in India, Vinod
Kothari Consultants (Nov. 15, 2023, 4:07 PM), https://vinodkothari.com/2022/08/laying-the-framework-for-carbon-trading-market-in-india/#_ftnref3.
Article Information
EMISSION TRADING RIGHTS IN INDIA
Authors: SANGEETA DUTTA
- Journal IJLRA
- ISSN 2582-6433
- Published 2024/04/22
- Issue 7
About Journal
International Journal for Legal Research and Analysis
- Abbreviation IJLRA
- ISSN 2582-6433
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