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DAILY NEWS ANALYSIS

  • 21 November, 2022

  • 4 Min Read

Summit on Leadership for Industry Transition

Summit on Leadership for Industry Transition

What are the Summit's Highlights?

  • Members of LeadIT reaffirmed their commitment to pursuing the low-carbon transition.
  • The event featured roundtable discussions on finance and other cross-sectoral issues, as well as perspectives on the requirements for successful low-carbon transitions.
  • Members also agreed to help new members and emerging economies with technical assistance. The significance of de-risking investments in heavy industry transition in emerging and developing countries was also emphasised.
  • The summit concluded with the members of LeadIT adopting the summit statement.

What is LeadIT?

  • The LeadIT initiative focuses on hard-to-abate sectors that are key stakeholders in global climate action and require specific interventions.
  • It brings together countries and businesses that are committed to implementing the Paris Agreement.
  • It was launched in 2019 at the UN Climate Action Summit by the governments of Sweden and India, and it is supported by the World Economic Forum.
  • LeadIT members believe that energy-intensive industries can and must progress on low-carbon pathways, with the goal of reaching net-zero carbon emissions by 2050.

Members:

LeadIT has 37 members in total, including countries and businesses.

Read Also: Pathway to low emissions in India

Source: PIB


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