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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-11 : Carbon markets transfer resources from the private sector to the State.
Which one of the following is correct in respect “of the above statements?

Miscellaneous 2023

Options

Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I

Both Statement-I and Statement-II are correct and Statement-II is the not correct explanation for Statement-I

Statement-I is correct but Statement-II is incorrect

Statement-I is incorrect but Statement-II is correct