India's Market Solutions for Pollution Reduction: A New Approach
India's Pollution Problem and Regulatory Failures
The study exposes the failures of previous command and control regulations, which remain dominant across India. These mandates require plants to install pollution abatement equipment, yet have struggled to achieve tangible results.
Exploring Market-Based Solutions
Innovative market mechanisms present a viable path forward. By creating incentives for industries to reduce emissions, market solutions can potentially drive change where regulations have fallen short.
- Emission Trading Systems
- Carbon Credits
- Performance-Based Incentives
Future Implications for India
As India stands at a crossroads, the integration of market solutions could redefine its approach to environmental policy. The impacts of pollution on public health and economic growth necessitate urgent action.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.