Consider the following statements about Perform, Achieve and Trade (PAT) Scheme:1. PAT is a market-based compliance mechanism that aims to accelerate improvements in energy efficiency in energy-intensive industries.2. It is launched by Ministry of new and renewable energy (MNRE). Which of the statements given above is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: A

Notes:

About Perform, Achieve and Trade (PAT) Scheme:

Launched by:Ministry of Power
Aim: PAT is a market-based compliance mechanism that aims to accelerate improvements in energy efficiency in energy-intensive industries.
Nodal Agency:It is a flagship programme of the Bureau of Energy Efficiency (BEE) under the National Mission for Enhanced Energy Efficiency (NMEEE).
Key Features of the Scheme: The scheme incentivises industrial units that improve their energy use efficiency. The govt. issues tradable certificates to industrial units which perform and save energy. The certificates can be traded units that are unable to meet the target.
Significance of the Scheme: The scheme has resulted in mitigation of million tons of CO2 emission.

Source: EPIC August 2021