Q. Consider the following statements:
1.The Energy Conservation (Amendment) Act of 2022 laid the foundation for India’s Carbon Credit Trading Scheme (CCTS) in India.
2.The Paris Agreement allows countries to achieve their climate goals through Internationally Transferred Mitigation Outcomes (ITMOs).
Which of the statement(s) given above is/are correct?
Answer: C
Notes:
Explanations –
Statements 1 and 2 are correct. The Energy Conservation (Amendment) Act of 2022 laid the foundation for India’s Carbon Credit Trading Scheme (CCTS). The Act empowers the central government to introduce a carbon credit trading mechanism aimed at reducing carbon emissions and promoting decarbonization in line with India’s climate goals under the Paris Agreement. The Paris Agreement, through Article 6, allows countries to achieve their climate goals by using Internationally Transferred Mitigation Outcomes (ITMOs). ITMOs enable countries to transfer greenhouse gas mitigation outcomes between nations, helping them meet their emission reduction commitments.
Source: The Hindu
