Gujarat's Trailblazing Emissions Market: A Hope for Cleaner Air

Gujarat's innovative emissions trading scheme, designed to reduce particulate pollution, has earned a spot as a finalist for the prestigious 2025 Earthshot Prize. This groundbreaking initiative, developed with the Emissions Market Accelerator (EMA), marks a significant achievement in global environmental efforts.

The world's first cap-and-trade market for particulate pollution in Surat—a collaborative effort between Gujarat and the EMA—demonstrates a successful market-based approach, allowing industries to trade emission permits. The results have been profound, leading to reduced pollution, lower compliance costs, and increased industry profitability.

Gujarat's success has set a pioneering example for emerging economies worldwide, proving that financial market solutions can effectively tackle pollution challenges. The model's recognition as an Earthshot finalist emphasizes its transformative potential in global environmental policy.

(With inputs from agencies.)