Pande and Ryan in The Economic Times: "Indian carbon market success hinges on transparent, stable design"
EGC affiliates Rohini Pande and Nicholas Ryan penned an op-ed in The Economic Times, detailing how the new Indian Carbon Market can succeed where predecessors have stumbled by embracing transparency and stability.
The Economic Times
July 31, 2026
India plans to hold the first trading session of Indian Carbon Market (ICM) later this year, marking the culmination of a process that has been underway since 2023. The launch is a major milestone, introducing a powerful new policy instrument to reduce carbon emissions intensity of the manufacturing sector.
Market-based regulation is the best way to meet environmental goals while promoting economic growth. We had advised Gujarat on setting up a market for local air pollution. The new market cut pollution at sharply lower economic costs than existing policy. The same market principles can work for GHGs.
While the potential is great, experience of environmental markets in India has not been a uniform success.