Consider the following statements : Statement-I : The European Parliament approved The Net-Zero Industry Act recently. Statement-II : The European Union intends to achieve carbon neutrality by 2040 and therefore aims to develop all of its own clean technology by that time. Which one of the following is correct in respect of the above statements ?

1. A.Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
2. B.Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
3. C.Statement-I is correct, but Statement-II is incorrect✓ Correct
4. D.Statement-I is incorrect, but Statement-II is correct