India-Sweden consultations on Green Industry Transition Globally – exploring new frontiers.
The Leadership Group for Industry Transition (LeadIT) – led by India and Sweden – today launched a review of LeadIT’s future direction. The review will gather guidance on how LeadIT can further advance its mission of achieving net-zero emissions from heavy industry, taking into account the priorities of its members and a growing industry transition landscape.
Representatives from India's Ministries of Ports, Shipping and Waterways; Road Transport & Highways; Heavy Industries; Micro Small Medium Enterprises; Power; Coal; Steel; Petroleum and Natural Gas, Civil Aviation; New & Renewable Energy.
The inter-ministerial meeting between India and Sweden on 10 March that marked the launch of the review is followed by consultations with LeadIT members and partners from March to June.
Representatives from Sweden's Ministries of Foreign Affairs, Climate and Enterprise, and Finance.
LeadIT has made significant progress as a group, building momentum for industry transition globally. The initiative has placed industry transition on the global agenda through high-level dialogues, joint leaders’ statements, and policy guidance. LeadIT also supports national transition plans in emerging economies and boosts transparency of decarbonization efforts by providing tracking tools for industry transition roadmaps and low-carbon investments.
Since the inception of LeadIT at the UN climate summit in 2019, the focus on industry transition has increased significantly worldwide and the industrial policy landscape has transformed in many regions. LeadIT has contributed to this acceleration, providing guidance and political impetus for a wide range of sectoral, demand-side, and innovation initiatives. However, despite increased global efforts towards industry transition, the decarbonization of hard-to-abate industries is still progressing too slowly to meet the objectives set forth in the Paris Agreement.
Undertaking a review process is an important step for LeadIT to ensure that it maximizes its contribution to achieving our shared climate objectives and identify the frontiers of tomorrow. Global coordination and public-private collaboration will continue to play a critical role in driving transformative change.
For more information about the review, please get in touch with the Head of Secretariat, Per Andersson