In another pioneering move, NCDEX e Markets Ltd. (NeML) has developed the world’s first Emissions Permit Trading System (EPTS) for suspended particulate matter for Gujarat Pollution Control Board (GPCB) to tackle industrial air pollution in the state of Gujarat, thus doing its bit to reduce air pollution in the country.
Incepted in close association with researchers from Harvard Kennedy School, Yale University, University of Chicago and J-PAL-MIT Boston, NeML team succeeded in developing the EPTS for particulate matter in a record time of less than 4 months!
After successful pilot runs over the last few weeks, ‘live trading’ was initiated on the EPTS on Tuesday, 17th September 2019 with as many as 155 industrial units of the South Gujarat Textile Processors Association (SGTPA) participating in emissions permit trading on EPTS.
Under its ‘cap-and-trade’ scheme, GPCB has set a cap (upper limit) on the total emissions of suspended particulate matter by all the industrial units put together in the state and has issued permits to each industrial unit with the permissible emission limits. Using Continuous Emissions Monitoring System (CEMS), GPCB will track emissions in real-time and industrial units can trade their surplus (emission) credits with those who need it through NeML’s EPTS – just like any other commodity!
Here are two notable news articles on NeML’s ETP for further understanding of emissions trading:
1. Times Now