Leadership Group for Industry Transition (LeadIT)

Share with Your Friends

Join Our Whatsapp Group For Daily, Weekly, Monthly Current Affairs Compilations

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

Download Our App


Related Articles

Youth Destination Facilities