Vibrant carbon market, not tax, could rein in carbon emissions in India

By Mrunmayee Kulkarni
August 3, 2023

The success of India's carbon market will depend on the regulator's ability to enforce design features, according to Rohini Pande, Director of Economic Growth Centre at Yale University. Introducing a bond system like the one piloted at Gujarat Pollution Control Board where penalties are issued for non-compliance could be effective. Carbon market permits will be given to participating companies, and there may be a cap on aggregate carbon emissions.