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Consider the following statements:Statement-I: The European Parliament approved the Net-Zero Industry Act recently.Statement-II: The European Union in

Question

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

Correct option is C

Statement-I is correct.

The European Parliament recently approved the Net-Zero Industry Act, a key legislative framework aimed at increasing the production of clean technologies within the European Union (EU). This act is part of the EU's broader effort to transition to a more sustainable and self-sufficient economy, reducing its dependency on external sources for critical clean energy technologies.

Statement-II is incorrect.

The European Union has set a goal to achieve carbon neutrality by 2050, not 2040. The Net-Zero Industry Act is part of the EU’s strategy to develop its own clean technology industry by 2050 to meet its decarbonization goals, but the target date for achieving carbon neutrality is 2050, aligning with global climate goals under the Paris Agreement.