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Leadership Group for Industry Transition (LeadIT)

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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

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