Q. 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 tis own clean technology by that time.
Which one of the following is correct in respect of the above statements?
Exp) Option c is the correct answer.
Statement I is correct. The European Parliament has recently approved the Net-Zero Industry Act to enhance net-zero technology production within the European Union.
Statement II is incorrect. The European Union aims to be climate-neutral by 2050 – an economy with net-zero greenhouse gas emissions. It is part of the European Green Deal and is a legally binding target.
The Act sets a target for the European Union to produce 40 percent of its annual needs for net-zero-emitting technologies by 2030, based on national energy and climate plans (NREAPs) that each state will have to develop. It also aims to achieve 15 percent of the global market value for such technologies. The act aims to ensure that the bloc produces 40% of its solar panels, wind turbines, heat pumps and other clean tech equipment by 2030.
