Q. Consider the following statements
1) Energy Conservation Act, 2001 covers the issue of energy conservation in large residential buildings.
2) The concept of carbon trading was initiated by Kyoto Protocol at the global level.
Select the correct answer using the codes below:
Answer: B
Notes:
Statement 1 is incorrect. The 2022 amendment Bill seeks to widen the scope of energy conservation to include large residential buildings as well. Till now, the energy conservation rules applied mainly on industrial and commercial complexes.
Statement 2 is correct. The Kyoto Protocol was the first vehicle for emissions trading in greenhouse gases—or what we will call carbon markets.4 Kyoto set up a system of emissions limits for a basket of six GHGs for developed countries, mechanisms for those developed countries to trade their emissions limits, and mechanisms for developed countries to offset their emissions by financing emissions reductions in developing countries.
