With reference to Green Credit scheme, consider the following statements:1.Under this scheme, carbon credits can be sold and bought domestically. 2.The green credits will be tradable and those earning it will be able to put these credits up for sale on a proposed domestic market platform.Select the correct statement using the codes given below:

Q. With reference to Green Credit scheme, consider the following statements:
1.Under this scheme, carbon credits can be sold and bought domestically.
2.The green credits will be tradable and those earning it will be able to put these credits up for sale on a proposed domestic market platform..
Select the correct statement using the codes given below:

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: B

Notes:

Explanation –

Statement 1 is incorrect. Under this, individuals, industries, farmers producers’ organisations (FPOs), urban local bodies (ULB), gram panchayats and private sectors, among a host of other entities, will be able to earn “green credit” for undertaking environment-friendly actions. These include planting trees, conserving water, waste management and reducing air pollution.

Statement 2 is correct. The green credits will be tradable and those earning it will be able to put these credits up for sale on a proposed domestic market platform. These credits, through a market mechanism, can also be traded for money.

Source: ForumIAS

Post-Mains Strategy Session by Mr. Ayush Sinha | ForumIAS