That “buy credits if you
#pollute more” line is not a
#carbon market
Surat’s 2019 scheme was the world’s first cap-and-trade for industrial particulate matter — the soot from factory stacks
An RCT later found participating plants cut PM 20–30% vs plants under old command-and-control, compliance rose to ~99%, and abatement costs fell ~11%
It can make industry cleaner. It does not automatically clean winter air, because vehicles, construction, waste burning and stubble sit outside the cap