While a cap & trade scheme is not the only way to address the challenge, it does offer a market-based economically-efficient pathway to achieving pollution reduction.
As we write this, Delhi’s air pollution index has been over 500 and climbing closer to 700. From experience, this will climb further in a matter of weeks. Discussions about the problem have resurfaced, but sadly much of the discussion continues to be around who is at fault—where the pollution is coming from and what activity causes it.
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Article by Amit Kapur & Mahua Acharya published in Financial Express.