Pollution Markets May Hold Promise but Regulatory Mechanisms Remain Crucial in India

The article examines the potential and limitations of pollution markets (like carbon trading schemes) as a tool for India to reduce emissions. While acknowledging that such market-based mechanisms can offer cost-effective flexibility for industries to meet environmental targets, the article strongly argues they are not a standalone solution. The central thesis is that robust regulatory frameworks and strong enforcement by agencies like the pollution control boards remain absolutely crucial.

The piece cautions that without transparent monitoring, strict compliance, and the political will to penalize violations, pollution markets could simply become a loophole for polluters to buy their way out, failing to deliver real-world air quality improvements. It concludes that for India, markets should be seen as a complementary tool to—not a replacement for—clear regulations, continuous emission reduction mandates, and ground-level regulatory oversight.

Read this news coverage here: Pollution Markets May Hold Promise but Regulatory Mechanisms Remain Crucial in India