Consider the following statements:

Statement I: Circular economy reduces the emissions of greenhouse gases.

Statement II: Circular economy reduces the use of raw materials as inputs.

Statement III: Circular economy reduces wastage in the production process.

Which one of the following is correct in respect of the above statements?

1. (a) Both Statement II and Statement III are correct and both of them explain Statement ICorrect answer
2. (b) Both Statement II and Statement III are correct but only one of them explains Statement I
3. (c) Only one of the Statements II and III is correct and that explains Statement I
4. (d) Neither Statement II nor Statement III is correct

Answer: (a)