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Emissions Trading Scheme in Surat Cuts Pollution, Hikes Profit

Companies can trade their allowances, enabling them to further reduce their emissions

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Pollution
With the festival of lights Diwali approaching, the need to confront Pollution becomes even more critical. Pixabay

The emissions trading scheme for trading greenhouse gas emissions allowances that has been adopted by Surat in Gujarat can reduce pollution 29 per cent while increasing profits for a majority of industrial plants, international researchers said on Friday.

Companies can trade their allowances, enabling them to further reduce their emissions.

With the festival of lights Diwali approaching, the need to confront pollution becomes even more critical.

In a move that is revolutionising India’s approach to pollution policies, Surat is the world’s first city that, on September 15, adopted an emissions trading scheme for particulate pollution.

An analysis by researchers from the University of Chicago and Yale University quantifies the significant potential the programme offers to reduce pollution while allowing continued economic growth.

“This first look at the programme finds that the Gujarat Pollution Control Board’s emissions trading scheme is projected to both foster economic growth by reducing industries’ compliance costs and improve people’s health by reducing particulate air pollution. It is bringing Indian environmental policy to the global frontier,” said Michael Greenstone, a co-author of the report.

Pollution
This first look at the programme in Surat finds that the Gujarat Pollution Control Board’s emissions trading scheme is projected to both foster economic growth by reducing industries. Pixabay

He’s the Milton Friedman Distinguished Service Professor in Economics and director of the Energy Policy Institute at the University of Chicago.

Greenstone and his co-authors find the programme can reduce particulate pollution by 29 per cent.

It can do so by setting a cap on the amount of pollution plants can emit equivalent to the amount they would have emitted if they had complied with current regulations, and allots permits to plants.

Plants that emit less pollution can sell their extra permits to plants that find it too costly to comply.

This “cap-and-trade” system delivers plants greater flexibility and will cost plants 36 per cent less than installing pollution abatement equipment.

Because a large majority of permits are given to industries for free at the start of the market, plants able to sell permits actually make money from the programme.

All total, the analysis finds the vast majority of industries will see their profits increase by greater than Rs 5.5 lakh per annum with the average increase in profits being Rs 8.6 lakh per year.

Pollution
“Cap-and-Trade” system in Surat delivers plants greater flexibility and will cost plants 36 per cent less than installing pollution abatement equipment. Pixabay

“The implementation of the pilot emissions trading scheme demonstrates remarkable foresight and imagination from Indian regulators and industry who are now using cutting-edge technology and economic techniques to balance the twin objectives of economic growth and air quality improvement,” said co-author Rohini Pande, the Henry J. Heinz II Professor of Economics and director of the Economic Growth Center at Yale University.

Greenstone and Pande, along with their colleagues Anant Sudarshan from the University of Chicago and Nicholas Ryan from Yale University, and others from The Abdul Latif Jameel Poverty Action Lab, are evaluating the benefits and costs of the pilot.

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They will provide periodic analysis throughout its course as well as a full evaluate at its conclusion, in coordination with the Gujarat Pollution Control Board. (IANS)

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India is Free From Coronavirus Currently

The coronavirus infection that started in China's Wuhan city has now spread to 30 different states of China

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Coronavirus
The coronavirus infection that started in China's Wuhan city has now spread to 30 different states of China. VOA

Ahead of US President Donald Trump’s visit, India is currently completely free of coronavirus infection. Coronavirus infection was confirmed among 3 students from Kerala among Indian citizens present inside the country, but now all three students are completely healthy and have been discharged from hospital.

Screening for identification of coronavirus is going on in India on a large scale, but at present no other person has been found to be suffering from this disease in the screening of coronavirus. Significantly, more than two thousand people have died due to coronavirus in China and about 75,000 people are suffering from this disease.

The Union Health Ministry says that after thermal screening of millions of people, samples of a total of 2,654 people went for further investigation on the basis of suspicion. Out of these 2,654 people, only three people from Kerala, who were found to be suffering from coronavirus, are now completely healthy.

Examining the remaining 2,651 people, they have been found to be completely safe from coronavirus. The test has been conducted at high-efficiency laboratories in Pune, Bangalore, Hyderabad, Delhi and Mumbai.

Union Health Minister Dr. Harsh Vardhan said that “India had begun its preparations for timely rescue of coronavirus. As many as 3,21,375 passengers of 2,296 aircraft have been screened. Also, 6,387 passengers of 125 ships have also been screened. None of these people are affected by the coronavirus”.

All 647 Indian nationals based in the ITBP’s Delhi and Manesar camp of the Indian Army have also been sent home on suspicion of coronavirus. All these Indians have been brought to India from Wuhan city of China. Significantly, Wuhan is the only city in China where coronavirus outbreak has spread the most. Wuhan city of China has been completely closed for about 1 month. However, none of these Indians, who have been lodged in the ITBP camp, have been found to be suffering from coronavirus infection.

Coronavirus
Significantly, more than two thousand people have died due to coronavirus in China and about 75,000 people are suffering from this disease. VOA

All these 647 suspects have spent more than 2 weeks in the Chawla camp of ITBP in outer Delhi. All the people living in the camp have been issued health certificate by the Ministry of Health.

All the Indians from China were regularly examined in these camps. Union Health Minister Dr Harsh Vardhan said, “Investigation has revealed that none of these Indians are affected by the coronavirus”.

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The coronavirus infection that started in China’s Wuhan city has now spread to 30 different states of China. Wuhan is the only state in China where most Indian students and other citizens are stranded. Most of the Indians returning home from China are students. (IANS)