Consider the following statements: Statement-I: The European Parliament approved The Net-Zero Industry Act…
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?
Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
Statement-I is correct, but Statement-II is incorrect
Statement-I is incorrect, but Statement-II is correct
Solution
Statement-I is correct — the European Parliament approved the Net-Zero Industry Act in 2024. Statement-II is incorrect: the EU's target for climate neutrality is 2050 (with a 2040 interim target of 90% emissions reduction proposed), not 2040 carbon neutrality.