Environment & Ecology · Carbon Credit Trading

With reference to carbon credits and carbon markets, consider the following statements: I. One carbon credit under India's carbon credit trading framework is equivalent to 100 kilograms of carbon dioxide equivalent. II. Article 6 of the Paris Agreement provides for cooperative approaches involving internationally transferred mitigation outcomes. III. In a cap-and-trade system, the overall quantity of emissions is capped, while covered entities may buy and sell allowances within that limit. IV. In India, the Central Electricity Regulatory Commission frames regulations relating to the purchase and sale of Carbon Credit Certificates in the domestic market. Which of the statements given above are correct?