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 ?

1. A. Both Statement-I and Statement-II are correct and Statement- II explains Statement-I
2. B. Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
3. C. Statement-I is correct, but Statement-II is incorrect
4. D. Statement-I is incorrect, but Statement-II is correct

Answer: C

Explanation

Statement-I is correct. The European Parliament recently approved the Net-Zero Industry Act, which aims to bolster EU production in technologies essential for decarbonization. This act sets a target for Europe to produce 40% of its annual deployment needs in net-zero technologies by 2030. Statement-II is incorrect. The European Union’s long-term strategy is to achieve climate neutrality (net-zero greenhouse gas emissions) by 2050, not 2040. Therefore, the goal of developing all its own clean technology by 2040 is also incorrect in this context. This question assesses awareness of recent international environmental policies and targets, which are significant for current affairs and environment sections of the UPSC exam.