UPSC Prelims 2024 · Question 46 of 97

UPSC Prelims 2024 question on 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?

  1. Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
  2. Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
  3. Statement-I is correct, but Statement-II is incorrect
  4. Statement-I is incorrect, but Statement-II is correct
Show answer

Answer: C. Statement-I is correct, but Statement-II is incorrect

Verdict

Correct answer: Statement I is correct, but Statement II is incorrect → Option (c).

Statement by statement

Statement I – CORRECT: Recently the European Parliament approved the Net-Zero Industry Act to bolster EU production in technologies needed for decarbonisation. The Act sets a target for Europe to produce 40% of its annual deployment needs in net-zero technologies by 2030 and to capture 15% of the global market value for these technologies.

Statement II – INCORRECT: The EU aims to be climate-neutral by 2050 (not 2040) – an economy with net-zero greenhouse gas emissions.

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