Consider the following statements : Statement-I : Carbon markets are likely to be one of the most widespread tools in the fight against climate change. Statement-II : Carbon markets transfer resources from the private sector to the State. Which one of the following is correct in respect of the above statements?
a
Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I
b
Both Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I
c
Statement-I is correct but Statement-II is incorrect
d
Statement-I is incorrect but Statement-II is correct
Climate Change MitigationCarbon Pricing & MarketsCarbon marketsCap-and-tradeCarbon creditsPrivate sectorState resources