Delhi, December 9, 2023 — In a landmark announcement today, Union Minister of Environment, Forest and Climate Change, Bhupender Yadav, revealed the three pillars of the second phase of the Leadership Group for Industry Transition (LeadIT).
Speaking at the LeadIT Summit 2023, held in collaboration with Sweden at COP28 in the United Arab Emirates, Yadav emphasized the significance of the upcoming phase, structured around three key components:
1. Global Forum for Dialogue:
– The platform aims to foster international conversations between governments and industry leaders.
2. Technology Transfer and Co-Development:
– Facilitating business-to-business technology transfer, shared patents, and building national institutional capacity for innovation.
3. Industry Transitions Platform:
– This initiative seeks to coordinate multilateral technical and financial support for global industry transition projects.
Highlighting the pivotal role of LeadIT in promoting global partnerships, Yadav credited the initiative for raising awareness and addressing challenges in industry transition. He emphasized the importance of transparent climate finance, equitable market structures, and a facilitative global technology transfer regime for deploying low-carbon climate technologies at scale.
Yadav acknowledged the urgent need for international climate funds to support developing economies in their transition towards a sustainable, low-carbon future. He urged industry leaders to actively participate in driving the LeadIT initiative alongside governments.Addressing the audience, Yadav emphasized, “Industry leaders are innovators and investors who can shape the trajectory of our industrial systems. Their commitment to LeadIT's vision is crucial for meaningful change.”
Romina Pourmokhtari, Minister for Climate and Environment of Sweden, echoed the urgency to reduce greenhouse gas emissions. She stressed the importance of decarbonization and green transition for social and economic prosperity.The announcement comes after the recent launch of an Industry Transition Platform (ITP) between India and Sweden, with a focus on technology co-development and implementation. Yadav expressed confidence that such platforms would bring together governments, private sectors, technology providers, and research institutes for a common goal.
The LeadIT Summit serves as a crucial platform for governments and industries to discuss policies for the low-carbon transition of the industrial sector in alignment with the Paris Agreement goals. LeadIT 2.0 was inaugurated on December 1, 2023, by Narendra Modi, Prime Minister of India, and Ulf Kristersson, Prime Minister of Sweden.
The Joint Mission Statement for the Leadership Group for Industry Transition (2024-26) was adopted at the summit, outlining the strategic direction for the next phase of LeadIT. The mission statement emphasizes driving policy frameworks, fostering public-private partnerships, and supporting knowledge-sharing to achieve a just and equitable industry transition by 2030.
In the face of the growing ambition and implementation gaps to achieve the Paris Agreement goals, LeadIT commits to fostering dialogue, strengthening partnerships, and supporting countries and companies seeking trusted allies for industry transition. The strategic direction for LeadIT until 2026 revolves around three pillars: a global forum for industry transition, technology transfer and co-development, and industry transition partnerships for coordinated multilateral assistance.
By Vinod Kumar
