Consider the following statements with reference to the International Maritime Organization's global carbon tax:
Statement-I: The IMO’s global carbon tax, supported by India, aims to cut shipping emissions and achieve net-zero emissions from ships by or around 2075.
Statement-II: The IMO Net-Zero Framework is the first in the world to combine mandatory emissions limits and greenhouse gas (GHG) pricing across an entire industry sector.
Which one of the following is correct in respect of the above statements?
1
Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
2
Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
3
Statement-I is correct, but Statement-II is incorrect
4
Statement-I is incorrect, but Statement-II is correct