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
Correct answer
Explanation
The correct answer is C, Statement-I is correct but Statement-II is incorrect. Carbon markets are a leading climate tool, but they work by moving money between emitters and those who cut emissions, not from the private sector to the State.
A carbon market puts a price on greenhouse gas emissions. In a compliance market, such as the European Union's Emissions Trading System, the government sets a cap and companies trade emission allowances; a firm that cuts emissions cheaply can sell its spare permits to one that cannot. In voluntary markets, companies buy carbon credits from projects that avoid or remove emissions, such as forests or renewable energy. Article 6 of the Paris Agreement allows countries to trade such reductions, and India has set up its own Carbon Credit Trading Scheme under the Energy Conservation Act. The trade is mostly private to private, so the claim about the State is wrong.
A and B are wrong because both treat Statement-II as correct.
D is wrong because Statement-I is correct.
Exam tip: carbon market = cap and trade or credits; buyers and sellers are mostly emitters and projects; Paris Agreement Article 6.
Practice Questions
View allConsider the following :
1. Battery storage
2. Biomass generators
3. Fuel cells
4. Rooftop solar photovoltaic units
How many of the above are considered "Distributed Energy Resources"?
- A.Only one
- B.Only two
- C.Only three
- D.All four
Show answer
Battery storage, biomass generators, fuel cells and rooftop solar units are all small, local sources that generate or store power close to where it is used, which is what Distributed Energy Resources are.
Read the full explanation →Due to some reasons, if there is a huge fall in the population of species of butterflies, what could be its likely consequence/consequences ?
1. Pollination of some plants could be adversely affected.
2. There could be a drastic increase in the fungal infections of some cultivated plants.
3. It could lead to a fall in the population of some species of wasps, spiders and birds.
Select the correct answer using the code given below :
- A.1 only
- B.2 and 3 only
- C.1 and 3 only
- D.1, 2 and 3
Show answer
Butterflies are pollinators and also food for many animals, so their decline would hurt pollination and their predators; it has no direct link with fungal diseases of crops.
Read the full explanation →Consider the following statements :
1. Lions do not have a particular breeding season.
2. Unlike most other big cats, cheetahs do not roar.
3. Unlike male lions, male leopards do not proclaim their territory by scent marking.
Which of the statements given above are correct ?
- A.1 and 2 only
- B.2 and 3 only
- C.1 and 3 only
- D.1, 2 and 3
Show answer
Lions breed at any time of year and cheetahs cannot roar, but male leopards do mark their territory with scent.
Read the full explanation →Which one of the following National Parks lies completely in the temperate alpine zone?
- A.Manas National Park
- B.Namdapha National Park
- C.Neora Valley National Park
- D.Valley of Flowers National Park
Show answer
Set high in the Garhwal Himalaya of Uttarakhand, roughly between 3,200 and 6,600 metres, it lies wholly in the temperate alpine zone.
Read the full explanation →Consider the following kinds of organisms:
1. Copepods
2. Cyanobacteria
3. Diatoms
4. Foraminifera
Which of the above are primary producers in the food chains of oceans?
- A.1 and 2
- B.2 and 3
- C.3 and 4
- D.1 and 4
Show answer
Cyanobacteria and diatoms carry out photosynthesis, so they are phytoplankton, the primary producers at the base of ocean food chains.
Read the full explanation →