Answer: C
The correct option in respect to the given statements is (c) Statement-I is correct, but Statement-II is incorrect.
Explanation:
Statement-1 states that carbon markets are likely to be one of the most widespread tools in the fight against climate change. This statement is correct. Carbon markets, also known as emissions trading or cap-and-trade systems, have gained significant attention as a mechanism to address climate change. They provide economic incentives for reducing greenhouse gas emissions by placing a price on carbon. Carbon markets allow the trading of emissions allowances or credits, creating a market-based approach to encourage emission reductions.
Statement-II states that carbon markets transfer resources from the private sector to the State. However, this statement is incorrect. In carbon markets, the transfer of resources primarily occurs between entities participating in the market, such as companies, organizations, or governments. It involves the buying and selling of emissions allowances or credits among market participants. The role of the state or government is to establish the regulatory framework and oversee the functioning of the carbon market, but the resources are not directly transferred from the private sector to the state.
Authentic reference sources for studying topics related to climate change and carbon markets can be found in NCERT textbooks, government of India websites, and international organization websites. Some relevant sources include:
NCERT textbook: "Contemporary World Politics" - Chapter 7: "Environment and Natural Resources"
Link: NCERT Political Science Class XII - Contemporary World Politics
Government of India website: Ministry of Environment, Forest and Climate Change (MOEFCC)
Link: Ministry of Environment, Forest and Climate Change
United Nations Framework Convention on Climate Change (UNFCCC) website
Link: UNFCCC
