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 technolog

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Q: 11 (IAS/2024)
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?

question_subject: 

Current Affairs

question_exam: 

IAS

Statement-I is correct as the European Parliament has approved the Net-Zero Industry Act, which aims to enhance the EU's manufacturing capacity for net-zero technologies. However, Statement-II is incorrect because the European Union's goal is to achieve carbon neutrality by 2050, not 2040. The 2040 target is a milestone towards the 2050 goal, aiming for a 90% reduction in net greenhouse gas emissions by 2040.