Q. With reference to Just Energy Transition Partnership (JETP) consider the following statements::
1.Its aim at equal distribution of excess renewable energies generated from the developed economies to the developing economies.
2.It is a type of climate finance mechanism that involves phasing out coal from the energy sector.
Select the correct statements using the codes given below:

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: B
Notes:

Statement 1 is incorrect. JETP is an initiative of the rich nations to accelerate phasing out of coal and reducing emissions.

Statement 2 is correct. It is a type of climate finance mechanism that involves phasing out coal from the energy sector. It provides for various funding options for developing countries.

Source: Business Standard