Dubai, December 1, 2023 – Prime Minister Narendra Modi, in collaboration with his Swedish counterpart Ulf Kristersson, launched the India-Sweden Industry Transition Partnership during the COP28 World Climate Action Summit, hosted in Dubai. The initiative, introduced under the broader framework of the Leadership Group for Industry Transition (LeadIT) 2.0, marks a significant stride toward a sustainable and green industrial revolution.
Since its inception in 2019, LeadIT has grown into a collaborative effort involving 18 countries and 20 industry-leading companies. Prime Minister Modi highlighted the shared commitment to achieving Global Net Zero and stressed the crucial role of government-industry partnerships in reaching this ambitious goal.
“In our shared commitment to Global Net Zero, the alliance between government and industry is crucial. Industrial innovation serves as a catalyst, propelling us towards a secure future for Planet Earth,” stated Prime Minister Modi.
The LeadIT initiative, initially centered around pivotal sectors such as iron, steel, cement, and aluminum, focused on industry transition and knowledge sharing. LeadIT has played a pivotal role in accelerating the adoption of low-carbon technologies, aligning with global environmental goals.
The unveiling of LeadIT 2.0 at COP28 in Dubai signaled a new chapter in the initiative’s trajectory, with an intensified commitment to three core areas:
1. Inclusive and Just Industry Transition : Ensuring that industry transitions are not only efficient but also equitable, promoting fairness and inclusivity in the process.
2. Low Carbon Technology Development and Transfer : Placing renewed emphasis on the development and seamless transfer of low-carbon technologies, crucial for achieving sustainable practices across industries.
3. Emerging Economy Technology Transfer: Facilitating the expedited transfer of innovative solutions to emerging economies, assisting in their transition to more sustainable practices.
The launch of the India-Sweden Industry Transition Partnership within the LeadIT framework aims to specifically address the challenges faced by heavy-emitting industries. Prime Minister of Sweden, Ulf Kristersson,highlighted his pride in the collaboration between Sweden and India, unveiling the “Sweden India Industry Transition Partnership” aimed at spearheading initiatives like Net Zero and reinforcing a strengthened alliance to expedite green industrial transitions. Emphasizing the imperative implementation, industrialization, and dissemination of new technologies, he underscored the partnership’s focus on transforming heavy-emitting industries. The collaboration will focus on sectors such as iron, steel, quicklime, cement, concrete, and aluminum, which have historically been deemed hard or almost impossible to abate.The partnership aims to implement and spread new technologies, with a particular focus on the industrialization of green solutions. This includes the production of fossil-free steel, electrofuels, critical raw materials, and eco-friendly car batteries, creating jobs and fostering economic growth.
By addressing the challenges of industry transition, both nations are setting the stage for a more sustainable and resilient global future, demonstrating the effectiveness of collaborative efforts on an international scale.
Vinod Kumar