Consider the following statements:
Statement-I : The European Parliament approved The Net-Zero Industry Act recently.
Statement-II : The European Union intends to achieve carbon neutrality by 2040 and therefore aims to develop all of its own clean technology by that time.
Which one of the following is correct in respect of the above statements?
(a). Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
(b). Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
(c). Statement-I is correct, but Statement-II is incorrect
(d). Statement-I is incorrect, but Statement-II is correct
Explanation:
Statement I is correct, but Statement II is incorrect:
Statement I: The European Parliament recently approved the Net-Zero Industry Act, which aims to increase the production of net-zero technology within the European Union. The act is part of the green deal industrial plan, along with the critical raw materials act and the electricity market design reform. The act's objectives include:
Setting clear objectives and monitoring mechanisms to improve investment certainty, policy focus, and coordination
Lowering administrative burdens for developing net-zero manufacturing projects
Facilitating access to markets through public procurement procedures and auctions, as well as schemes to support private demand
Statement II
The European Union aims to achieve carbon neutrality by 2050, not 2040. This means having no net greenhouse gas emissions.
So, the correct answer is option (c)