Bringing emissions markets to the Global South
Why the Global South?
Forty-nine of the top 50 most polluted countries in the world are located in the Global South, which is also home to 82 percent of projected growth in CO2 emissions.
Yet, the Global South hasn’t had the tools to address its environmental burden without compromising growth because conventional rules can be costly and hard for regulators to enforce. By contrast, emissions markets are a flexible, transparent approach that allow for stronger compliance at lower cost.
Scaling Up
Following a success pilot market, the Emissions Market Accelerator team helped the Gujarat government launch a second market in the city of Ahmedabad—Gujarat’s largest city and a major industrial hub—and entered into agreements to establish India’s first sulfur dioxide trading market and a wastewater pollution market within the state.
Building on this momentum, the team is now supporting a sulfur dioxide market in Maharashtra and is beginning to design a market in Rajasthan. Discussions are also underway to expand to the Indian states of Tamil Nadu, West Bengal and Bihar, as well as internationally.
How it Works
The Emissions Market Accelerator provides end-to-end technical support, helping regulators and industries establish markets that cap emissions, allocate tradable permits, and enforce compliance through continuous emissions monitoring.
Contact Us
Gaurav Saraf
Program Manager
Emissions Market Accelerator
gauravsaraf@uchicago.edu