Consider the following statements : Statement I : Studies indicate that carbon dioxide emissions from cement industry account for more than 5% of global carbon emissions. Statement II : Silica-bearing clay is mixed with limestone while manufacturing cement. Statement III : Limestone is converted into lime during clinker production for cement manufacturing. Which one of the following is correct in respect of the above statements?

Option (B) is correct because while both Statements II and III are factually true, only Statement III explains the high CO2 emissions in Statement I through the calcination process ($CaCO_3 \rightarrow CaO + CO_2$), which releases carbon dioxide as a direct chemical byproduct. Option (A) is the most tempting wrong choice, but it is incorrect because Statement II describes the raw material mixture (silica-bearing clay) which does not inherently explain the emission of greenhouse gases. The core concept tested is the environmental impact of industrial chemistry, specifically the carbon footprint of the cement manufacturing process.