Topic: Conservation, environmental pollution and degradation, environmental impact assessment.
6. As a policy tool to control greenhouse gas emissions, the carbon emissions trading mechanism can achieve the goal of reducing emissions while minimizing overall emissions reduction costs through market transactions. Examine. (250 words)
Difficulty level: Moderate
Reference: Insights on India
Why the question:
The question is part of the static syllabus of General studies paper – 3 and mentioned as part of Mission-2024 Secure timetable.
Key Demand of the question:
To write about carbon market and India’s potential in using it to fight climate change.
Directive word:
Examine – When asked to ‘Examine’, we must investigate the topic (content words) in detail, inspect it, investigate it and establish the key facts and issues related to the topic in question. While doing so we should explain why these facts and issues are important and their implications.
Structure of the answer:
Introduction:
Begin by defining carbon market.
Body:
In the first part, in detail, write about the structure and functioning of carbon market and its brief history.
Next, write about the potential of carbon markets in reducing carbon emissions and fighting climate change. Write the ways in which it would help. Substantiate with facts and examples.
Next, write about the challenges and limitations associated with carbon markets in India. Mention ways to overcome them.
Conclusion:
Conclude by writing a way forward.
