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?
Detailed Explanation:
Correct Answer: ✅ Option 3 — Statement-I is correct, but Statement-II is incorrect
The Net-Zero Industry Act (NZIA) was approved by the European Parliament in 2024 to strengthen clean-tech manufacturing within the European Union. However, the EU's legally binding climate-neutrality target is 2050, not 2040. Also, the Act does not aim to develop all clean technologies domestically; it targets meeting about 40% of the EU's annual deployment needs through domestic manufacturing.
✅ Statement-I is Correct: The European Parliament approved the Net-Zero Industry Act (2024) to boost clean-tech manufacturing and reduce dependence on external suppliers.
❌ Statement-II is Incorrect: The EU aims for carbon neutrality by 2050, not 2040, and the Act does not seek to produce all clean technologies within the EU.
Question 1 of 2 Climate Change Developments
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First question in this topic
The term ‘IndARC’ sometimes seen in the news, is the name of?