The NewYork Times says that India is working on two distinct market based mechanism to curb emissions. Does any of you have experience working through these mechanisms. What is your opinion on the feasibility of these mechanisms.
"One is the world’s first national market-based energy efficiency trading mechanism, called Perform, Achieve and Trade. It would set benchmark efficiency levels for 563 big polluters, like power plants, steel mills and cement plants, which account for 54 percent of the country’s energy consumption.
The program would allow businesses that use more energy than stipulated to buy tradable energy-saving certificates, or Escerts, from those that use less, creating a market that the government estimates will be worth about $16 billion in 2014, when trading is to start.....
The other program has already been set up. Under it, India has established a renewable energy certificate trading program for wind, solar and biomass power plants. Green power makes up about 8 percent of energy production in India, while coal generates more than 60 percent, leading to a hefty coal import bill."
Replies