Leadership Group for Industry Transition (LeadIT)
Recently, India and Sweden hosted the ‘Industry Transition Dialogue’ in ‘Stockholm’ as a part of their joint initiative ‘Leadership for Industry Transition (LeadIT).
Leadership Group for Industry Transition (LeadIT)
- ‘Leadership Group for Industry Transition’ (LeadIT) through active participation of private sector companies to reduce carbon emissions especially in difficult sectors like Iron & Steel, Aluminium, Cement & Concrete, Petrochemicals, Fertilizers, Bricks, Heavy Duty Transport etc. It is a voluntary initiative to encourage reduction.
- This initiative brings together countries and companies committed to fulfilling and taking action on the ‘Paris Agreement’.
- It was launched by the governments of Sweden and India at the ‘United Nations Climate Action Summit’ in the year 2019 and is supported by the ‘World Economic Forum’.
- LeadIT members promote the idea that the goals of achieving ‘net-zero carbon emissions’ by 2050 can be achieved by adopting low-carbon emissions measures in energy-intensive industries.
- Its management board consists of representatives from Sweden, India and the World Economic Forum.
- The Secretariat of LEED IT is responsible for managing the work of the Leadership Group and is hosted by the Stockholm Environment Institute.
- At present, the group comprises a total of 16 countries and 19 companies, including Dalmia Cement, Mahindra Group and Spice-Jet from India.
Significance of the LeadIT Initiative:
The industry sectors together contribute about 30% of the total CO2 emissions. Therefore, initiatives like LeadIT are important to drive the industry sector on a ‘low carbon’ growth path to achieve the goals of the Paris Agreement.
Source – The Hindu
