Which of these is correct?

Hi, the second option is correct as you need a verb in that context.
Hamid

hrsaneias you need a verb in that context.

Well, "effecting" is a verb too – just not the right one ...

Right. But I thought it would be confusing for him/her to tell that both of them can be verbs. Even most of native speakers do not use effect as a verb in their speaking or writing. It is easier for learners to memorize affect and effect as verb and noun, respectively.
Hamid

hrsanei It is easier for learners to memorize affect and effect as verb and noun, respectively.

For that particular meaning. To claim that 'effect' cannot function as a verb can lead to future confusion.

Both affect and effect can be used as verbs, although affect is ONLY used as a verb, while effect can be used as a verb and a noun. Affect is used to describe the effect of A on B as in 'your environment can affect you health'. As a verb, effect means ‘to bring something about as a result’, focussing on the result. So the verb is followed by what it is trying to bring about, e.g his tried

Anonymousalthough affect is ONLY used as a verb,

In fact even this is not strictly true, though noun "affect" is rare and specialised (e.g. psychology), and you could go years without ever encountering it.