LeadIT

LeadIT

News: The 2nd phase of LeadIT summit was recently hosted by India and Sweden at COP28 in UAE.

What is LeadIT initiative?
• The Leadership Group for Industry Transition (LeadIT) is an initiative that brings together countries and companies committed to achieving the goals of the Paris Agreement. It was launched by the governments of Sweden and India at the UN Climate Action Summit in September 2019 and is supported by the World Economic Forum.
• The group includes 38 members who are committed to the notion that energy-intensive industries can and must progress on low-carbon pathways, aiming to achieve net-zero carbon emissions
• LeadIT provides a platform for public-private collaboration, sectoral and cross-sectoral learning, particularly in relation to innovation opportunities and new technologies. It has developed tools to assist industry experts in tracking the progress of industry transition and developing industry transition roadmaps.

Key highlights of 2nd phase of LeadIT summit:
• The Union Minister of Environment, Forest and Climate Change, Shri Bhupender Yadav, announced the three pillars of the second phase of LeadIT.
• A Global Forum for Dialogue: This pillar aims to foster international dialogue on industry transition.
• Technology Transfer and Co-development: This pillar focuses on the exchange and joint development of technologies to facilitate industry transition.
• Industry Transitions Platform: This platform is designed to coordinate multilateral technical and financial support available through multiple channels