The correct answer is Option 3- Statements A and C are correct.
Statement A- They feel that much of the ecological degradation in the world is the product of industrial development undertaken by developed countries. (CORRECT)
Statement B- They want that the developing countries must be subjected to the same restrictions, which apply to the developed countries as they are yet in the process of industrialisation. (INCORRECT)
Statement C- The argument of the developing countries accepted in the Rio Declaration at the Earth Summit in 1992 is called the principle of ‘common but differentiated responsibilities’. (CORRECT)
CORRECTION in Statement B- Moreover, the developing countries are in the process of industrialisation and they must NOT be subjected to the same restrictions, which apply to the developed countries.
There is a difference in approach to the environment between the countries of the North and the South. The developed countries of the North want to discuss the environmental issue as it stands now and want everyone to be equally responsible for ecological conservation. The developing countries of the South feel that much of the ecological degradation in the world is the product of industrial development undertaken by the developed countries. If they have caused more degradation, they must also take more responsibility for undoing the damage now. Moreover, the developing countries are in the process of industrialisation and they must not be subjected to the same restrictions, which apply to the developed countries. Thus the special needs of the developing countries must be taken into account in the development, application, and interpretation of rules of international environmental law. This argument was accepted in the Rio Declaration at the Earth Summit in 1992 and is called the principle of ‘common but differentiated responsibilities’. | 
