Explanation:

Green contracts

• ‘Green contracts’ are commercial contracts which mandate that contracting parties cut down greenhouse gas emissions at different stages of delivery of goods/services, including design, manufacturing, transportation, operations and waste disposal, as applicable to the industry. 
• A ‘green tender’ defines necessary ‘green qualifications’, which can be considered when awarding the contract to a bidder. 
• These green qualifications can range from 
• using a pre-defined percentage of ‘green energy’ in service delivery to adequate on-site waste management, 
• reducing carbon emissions by a certain level over period of time, etc. 
• The economic cost of executing green contracts may be greater than a normal brown contract, but global entities operating in a changing environment need to take into consideration the greater environment costs at stake.

Hence both statements are correct.