Why do singlet carbenes have no net magnetic moment?

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carbene Nonbonding orbitals in triplet and singlet states

Singlet carbenes have no net magnetic moment because all of their nonbonding electrons are paired within the same orbital.1

In chemistry, electrons possess angular momenta that generate a magnetic effect. When electrons are paired, their spins are of opposite signs, causing their individual magnetic moments to cancel each other out. By contrast, triplet states contain unpaired electrons with parallel spins, which do not cancel and therefore exhibit a net magnetic moment.1