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?
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A medium Environment multiple-choice question from UPSC Prelims 2023. Attempt it above, then check the correct answer and detailed explanation below.
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Correct answer: C. Statement-I is correct but Statement-II is incorrect
Carbon markets aim to mitigate climate change by pricing carbon emissions, but they do not inherently transfer resources to the State.
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