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. 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, fertilisers, bricks, heavy-duty transport, etc. through active participation of private sector companies.
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 industry sector are critical for achieving the goals of the Paris Agreement.
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, it is necessary that more companies from the heavy industries should 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 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 built structure.
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.