In an initiative to promote sustainable chemistry, a research team is tasked with developing a new green solvent, 'Solvent S', which is intended to replace more hazardous solvents currently used in industrial chemical processes. The development of 'Solvent S' involves several key criteria to ensure its environmental friendliness and effectiveness. The sequence of the development process is as follows: 'Solvent S' is synthesized from renewable resources, ensuring that its production is sustainable and does not rely on petrochemical feedstocks. The solvent's ability to dissolve a wide range of organic and inorganic compounds is tested, aiming for versatility comparable to traditional solvents. The toxicity and biodegradability of 'Solvent S' are rigorously assessed to confirm its low environmental impact and safety in use. Finally, the economic feasibility of producing 'Solvent S' at a large scale is evaluated, including the cost of raw materials and the synthesis process. Based on this sequence, what is the primary challenge or objective in the development of 'Solvent S' for industrial application? Options: A. Ensuring high solvation power for diverse chemical reactions B. Minimizing the environmental and health impacts of the solvent C. Achieving cost competitiveness with traditional solvents D. Maximizing the yield and purity of the solvent in the synthesis process Hints: Consider the importance of each criterion in the context of green solvent development and its implications for industrial applications. Reflect on the balance between environmental sustainability, effectiveness, safety, and economic considerations in solvent development. Think about the key factors that drive the replacement of traditional solvents with greener alternatives in the chemical industry. Don't use chatgpt please provide valuable answer