Explanation –

Statements 1 and 2 are incorrect. The Perform, Achieve, and Trade (PAT) scheme in India focuses on energy efficiency in energy-intensive industries by setting specific energy consumption targets. It does not set absolute limits on emissions. On the other hand, Emissions Trading, also known as “Cap and Trade,” sets absolute caps on greenhouse gas emissions and allows entities to trade emission allowances to stay within the cap. India has not formally adopted the ETS approach and has resisted mandatory emission cuts. India’s target under its Nationally Determined Contributions (NDCs) is to reduce the emissions intensity of its GDP by 45% below 2005 levels by 2030. India has set targets to reduce the emissions intensity of its GDP by 45% below 2005 levels by 2030 and to achieve about 50% cumulative electric power installed capacity from non-fossil fuel-based energy sources by 2030. These targets are based on emissions intensity rather than absolute emissions reductions from a specific baseline year.

Source: The Hindu