Consider the following statements : Statement-I : The European Parliam

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 ?

[amp_mcq option1=”Both Statement-I and Statement-II are correct and Statement-II explains Statement-I” option2=”Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I” option3=”Statement-I is correct, but Statement-II is incorrect” option4=”Statement-I is incorrect, but Statement-II is correct” correct=”option3″]

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UPSC IAS – 2024

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Statement-I is correct: The European Parliament recently approved the Net-Zero Industry Act. This act is a key part of the EU’s Green Deal Industrial Plan. Statement-II is incorrect: The European Union’s target year for achieving carbon neutrality is **2050**, not 2040. While the Net-Zero Industry Act aims to strengthen the EU’s domestic manufacturing capacity for clean technologies, the goal is tied to meeting the 2050 climate target, not necessarily developing *all* technology domestically by 2040.

– The Net-Zero Industry Act was proposed by the EU Commission and approved through the EU legislative process.
– The Act aims to boost the manufacturing of strategic net-zero technologies within the EU.
– The primary EU target for climate neutrality (net-zero emissions) is set for 2050.

The Net-Zero Industry Act is intended to make the EU’s economy more resilient and competitive in the transition to clean energy, reducing reliance on imports for crucial technologies like solar panels, wind turbines, and batteries. The 2050 climate neutrality target is enshrined in the European Climate Law.

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