Consider the following statement:
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?
a. Both Statement I and Statement II are correct and Statement II is the correct explanation for Statement I
b. Both Statement I and Statement II are correct and Statement II is not the correct explanation for Statement I
c. Statement I is correct but Statement II is incorrect
d. Statement I is incorrect but Statement II is correct