The correct answer is option 4: Aerenchyma.

Aerenchyma is a specific type of tissue found in plants that has large air spaces. These air spaces allow the uptake and transport of gases, particularly oxygen, to cells and tissues that are submerged in water.

Let`s take a closer look at the other options to understand why they are not the correct answers.

1. Sclerenchyma: This tissue is characterized by thick, lignified cell walls and provides support and protection to the plant. However, it does not have large air spaces.

2. Meristem: Meristem refers to the undifferentiated or actively dividing cells in plants. It is responsible for growth and development. While meristem cells are important for plant growth, they do not have large air spaces.

3. Collenchyma: Collenchyma tissue provides flexible support to growing plant parts. It is typically found in regions of new growth, such as the petioles and stems. However, like other plant tissues mentioned earlier, collenchyma does not have large air spaces.

In conclusion, aerenchyma is the correct answer as it is the only plant tissue that is characterized by large air spaces.