EU Net‑Zero Industry Act and Carbon Neutrality Targets — UPSC Prelims PYQ...
Consider the following statements:
- Statement-I: The European Parliament approved The Net-Zero Industry Act recently.
- Statement-II: The European Union intends to achieve carbon neutrality by 2040 and therefore aims to develop all of its own clean technology by that time.
Which one of the following is correct in respect of the above statements?
- Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
- Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
- Statement-I is correct, but Statement-II is incorrect
- Statement-I is incorrect, but Statement-II is correct
Explanation
Statement 1 is correct
- The EU’s Net-Zero Industry Act (NZIA) entered into force on 29 June 2024. The Net-Zero Industry Act is an initiative stemming from the Green Deal Industrial Plan which aims to scale up the manufacturing of clean technologies in the EU. This means increasing the EU’s manufacturing capacity of technologies that support the clean energy transition and release extremely low, zero or negative greenhouse gas emissions when they operate.
Statement 2 is incorrect
- The aim is that the Union’s overall strategic net-zero technologies manufacturing capacity approaches or reaches at least 40% of annual deployment needs by 2030. This will accelerate the progress towards the EU’s 2030 climate and energy targets and the transition to climate neutrality by 2050 (not 2040). The act also sets a target of reaching 50 million metric tons of annual storage capacity of carbon dioxide by 2030
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Answer: (c) Statement-I is correct, but Statement-II is incorrect; Difficulty Level: Easy
