The development of 'Ozone Hole' is mentioned in the context of redox phenomena. Which of the following best describes why this is considered a redox phenomenon?
The introductory paragraph states, 'Of late, environmental issues like Hydrogen Economy (use of liquid hydrogen as fuel) and development of ‘Ozone Hole’ have started figuring under redox phenomenon.' Redox reactions inherently involve changes in oxidation states (electron transfer). The formation and depletion of ozone in the atmosphere ($O_3$) involve oxygen species in different oxidation states and transformations between them through oxidation and reduction processes which are crucial to understanding the 'Ozone Hole'.