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A Green Emerging Market: India’s Experiments with Market Based Mechanisms for Climate Mitigation

DOI https://doi.org/10.21552/CCLR/2012/4/230

Anjum Rosha, David Freestone


India is the fourth largest emitter of greenhouse gases in the world. After Copenhagen in 2009, India announced that it will be working to reduce voluntarily the carbon intensity of its emissions by 20–25 % against 2005 levels by the year 2020, while maintaining a growth rate of 8 %. In 2011–2012, it introduced a number of innovative initiatives to help reach that goal. This paper will discuss three of these measures. Two of these schemes are market based initiatives in the field of energy: the first is called “Perform, Achieve and Trade” and is aimed at improved energy efficiency; the second scheme promotes increased use of renewable sources of energy through trade in renewable energy certificates. The third scheme is a pilot market based emissions trading mechanism that seeks to reduce the levels of particulate matter emissions in three leading industrial states in India.

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