Exhorts more companies from the Heavy industries sector to join the global LEAD-IT initiative

Exhorts more companies from the Heavy industries sector to join the global LEAD-IT initiative

Efforts to drive low carbon development pathways in the industry sector are critical for achieving the goals of the Paris Agreement: Shri Bhupender Yadav. Exhorts more companies from the Heavy industries sector to join the global LEAD-IT(Leadership Group for Industry Transition) initiative.

On the sidelines of COP 26 in Glasgow, the LeadIT (Leadership Group for Industry transition) Summit 2021 was held in hybrid mode presided by India and Sweden. Shri Bhupender Yadav, Union Minister for Environment, Forest and Climate Change, delivering the opening remarks, highlighted that industry sectors together contribute about 30% of the total CO2 emissions, and thus, efforts to drive low carbon development pathways in the industry sector are critical for achieving the goals of the Paris Agreement.

 LeadIT is a voluntary initiative for promoting low-carbon transition especially in the hard-to-abate sectors like Iron & Steel, Aluminium, Cement and Concrete, petrochemicals, fertilizers, bricks, heavy-duty transport, etc. through active participation of private sector companies.

Shri Yadav further stressed that although new countries like USA, Austria, and Ethiopia, and companies including Skanska, Heidelberg Cement, and Salzgitter have joined the initiative, more companies from the heavy industries must join the global initiative.

The Environment Minister mentioned the critical gaps in the global low carbon industry transition, which include technology development and transfer, ensuring the adequate flow of finance at scale and speed, capacity constraints, and policies to facilitate industry transition and stressed that any low carbon production in the heavy industry requires intervention both at the level of alternative feedstocks as well as efforts to reduce process-related emissions, which is challenging in developing countries that are yet to build the majority of a built structure.

“Developed countries should also provide lead markets for products of green technologies and drive down costs so that these can be deployed in developing economies also, at scale.”, emphasized Shri Yadav.

The meeting was co-chaired by Hon’ble Deputy Prime Minister and Minister of Environment of Sweden, Mr. Per Bolund, who welcomed the new members in the LeadIT Group and added that industries play an important role in the achievement of the net-zero target, leading up to the achievement of the Paris Agreement goal, and creation of new and green opportunities.

He also underlined the importance of cooperation between countries and investments for transformation to a fossil-free future, and on the need to find more friends including the private sector and civil societies. He added that public-private partnership and the creation of demand help in radical emission reductions and the creation of green jobs.

Mr. John Kerry, Special Presidential Envoy for Climate, USA said that it is important to explore opportunities that mix technology with finance, and LeadIT will support countries in holding hands and pulling up to achieve the goals of net-zero in the industry sector.

Shri Mahendra Singhi from Dalmia Cement underlined the need to decarbonize and achieve net-zero, for which, LeadIT has an important role to play, and mentioned that Dalmia Cement has taken a target to achieve net-zero by 2040, which can be achieved earlier if support is received.

The event was attended by the member countries and companies of LeadIT, including Argentina, Austria, Australia, Denmark, Ethiopia, Finland, France, Germany, Ireland, Luxembourg, Netherlands, Sweden, USA, UK, Ukraine, Dalmia Cement, Heidelberg Cement, LafargeHolcim, ThyssenKrupp, SSAB, Scania, Skanska, as well as the UN Assistant Secretary-General, World Economies Forum, etc.

Ukraine, which is not a member of the LeadIT group yet, informed that it has submitted its willingness to join the initiative. The Netherlands mentioned the Mission Integrated Biorefineries that is being implemented in collaboration with the Department of Biotechnology, India under Mission Innovation. Ethiopia talked about carbon neutrality and mentioned that collaboration is not only important among governments, but also among private sectors, and highlighted the importance of finance. The World Economic Forum looked forward to getting the 2030 plan implemented.

The event saw the adoption of the legal Summit Statement of LeadIT Summit 2021 by the Ministers of India and Sweden. 

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