Blue Dot Network

Consider the following statements with reference to the Blue Dot Network:

  1. The United States, Australia and Japan’s new Blue Dot Network will serve as a globally recognized seal of approval for major infrastructure projects, letting people know that projects are sustainable and not exploitative.
  2. The network is “ratings mechanism” that would grade infrastructure projects in the Indo-Pacific region on different parameters to ensure transparency and is planned as direct counter to China’s Belt and Road Initiative.

Which of the statement (s) given above is/are correct?

Only 1
Both 1 and 2
Only 2
Neither 1 nor 2