The name is absent

7.         Policy Implications

Results of this study have demonstrated that emission trading is more cost
effective than the existing regulatory system. Results show that intra-plant trading
would result in significant savings to the industry, while securing the improvement in
ambient air quality in the studied geographical area. These point towards the need to
implement intra-plant trading in the identified integrated steel plants in India.
Implementing emission trading would, however, require a reform of the existing
regulatory framework.

8.        Issues for Future Research

The study has identified at least two areas for research follow-up.

♦ Investigating the possibilities of intra-plant trading for other steel plants and other
pollutants. It may also be worth exploring the cost effectiveness of introducing
inter-plant permit trading.

♦ Examining the issues in compatibility of intra-plant emission trading with existing
laws, legal sanctions, and fines.

References

Atkinson, S.E. and T.H. Tietenberg (1982), “The empirical properties of two classes of
designs for transferable discharge permit markets”, Journal of Environmental
Economics and Management 9: 101-121.

Baumol, W. J. and W. E. Oates (1988), The Theory of Environmental Policy, Second
Edition, Cambridge: Cambridge University Press.

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