Consider the following statements :
Statement-I: Carbon markets are likely to be one of the most widespread tools in the fight against climate change.
Statement-II: Carbon markets transfer resources from the private sector to the State.
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 is the correct explanation for Statement-I
2
Both Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I
3
Statement-I is correct but Statement-II is incorrect
4
Statement-I is incorrect but Statement-II is correct