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Consider the following statements regarding carbon credits and carbon markets:
1. Projects aimed at eliminating Hydrofluorocarbon (HFC)-23 have shown the highest effectiveness in terms of genuine emissions reductions among carbon credit projects.
2. The principle of additionality is well-established and strictly adhered to across all carbon credit projects, ensuring that all credits represent emissions reductions beyond standard practices.
3. The carbon markets established under the Paris Agreement aim to enhance transparency and accountability in emissions reductions through robust trading systems.
Which of the statements given above is/are correct?
  • a)
    1 Only
  • b)
    1 and 2 Only
  • c)
    1 and 3 Only
  • d)
    1, 2 and 3
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Consider the following statements regarding carbon credits and carbon...
1. Statement 1 is correct. Projects aimed at eliminating Hydrofluorocarbon (HFC)-23 have indeed shown the highest effectiveness in achieving genuine emissions reductions, with approximately 68% of the credits resulting in real emissions cuts. This makes them one of the most reliable projects in terms of carbon credit effectiveness.
2. Statement 2 is incorrect. While the principle of additionality is a critical component of carbon credit projects, ensuring that emissions reductions go beyond what would occur under standard practices, the study highlighted significant inaccuracies in current assessments. Many projects do not strictly adhere to additionality requirements, leading to credits being issued for reductions that would have occurred regardless of the financial incentives from carbon credits.
3. Statement 3 is correct. The carbon markets under the Paris Agreement are indeed designed to enhance transparency and accountability in emissions reductions. Article 6 of the Paris Agreement facilitates trading carbon credits to help countries meet their climate targets more efficiently and effectively, aiming to build robust and transparent systems.
Thus, the correct answer is Option C: 1 and 3 Only. Statements 1 and 3 accurately reflect the current understanding and objectives of carbon credits and markets, whereas Statement 2 does not accurately describe the adherence to the principle of additionality.
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Consider the following statements regarding carbon credits and carbon markets:1. Projects aimed at eliminating Hydrofluorocarbon (HFC)-23 have shown the highest effectiveness in terms of genuine emissions reductions among carbon credit projects.2. The principle of additionality is well-established and strictly adhered to across all carbon credit projects, ensuring that all credits represent emissions reductions beyond standard practices.3. The carbon markets established under the Paris Agreement aim to enhance transparency and accountability in emissions reductions through robust trading systems.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?
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Consider the following statements regarding carbon credits and carbon markets:1. Projects aimed at eliminating Hydrofluorocarbon (HFC)-23 have shown the highest effectiveness in terms of genuine emissions reductions among carbon credit projects.2. The principle of additionality is well-established and strictly adhered to across all carbon credit projects, ensuring that all credits represent emissions reductions beyond standard practices.3. The carbon markets established under the Paris Agreement aim to enhance transparency and accountability in emissions reductions through robust trading systems.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding carbon credits and carbon markets:1. Projects aimed at eliminating Hydrofluorocarbon (HFC)-23 have shown the highest effectiveness in terms of genuine emissions reductions among carbon credit projects.2. The principle of additionality is well-established and strictly adhered to across all carbon credit projects, ensuring that all credits represent emissions reductions beyond standard practices.3. The carbon markets established under the Paris Agreement aim to enhance transparency and accountability in emissions reductions through robust trading systems.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding carbon credits and carbon markets:1. Projects aimed at eliminating Hydrofluorocarbon (HFC)-23 have shown the highest effectiveness in terms of genuine emissions reductions among carbon credit projects.2. The principle of additionality is well-established and strictly adhered to across all carbon credit projects, ensuring that all credits represent emissions reductions beyond standard practices.3. The carbon markets established under the Paris Agreement aim to enhance transparency and accountability in emissions reductions through robust trading systems.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?.
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