GLASGOW: India stressed on Tuesday that efforts to drive low-carbon development pathways in the industrial sector are essential to achieve the goals of the Paris Agreement.
Union Environment Minister Bhupender Yadav, speaking at the LeadIT (Leadership Group for Industry transition) 2021 summit, held on the sidelines of COP26 in Glasgow, underlined that the industrial sector contributes around 30% of total carbon emissions.
Industry sectors together contribute around 30 percent of total CO2 emissions, and therefore, efforts to drive low-carbon development pathways in the industrial sector are essential to achieve the goals of the Paris Agreement , ?? the minister said in his speech to the LeadIT summit chaired by India and Sweden.
Yadav also pointed out that although new countries like the United States, Austria and Ethiopia, and companies including Skanska, Heidelberg Cement and Salzgitter have joined the initiative, there is a need for more companies from heavy industries join the global initiative.
LeadIT is a voluntary initiative to promote the low carbon transition, in particular in sectors that are difficult to reduce such as Iron and Steel, Aluminum, Cement and Concrete, petrochemicals, fertilizers, bricks, heavy transport, etc.
through the active participation of private sector companies.
The Minister of the Environment mentioned the critical gaps in the transition from a global low-carbon industry, which include the development and transfer of technologies, ensuring adequate large-scale and high-speed financial flow, the constraints capacity building and policies to facilitate industry transition.
He also stressed that any low-carbon production in heavy industry requires intervention both at the level of alternative raw materials as well as efforts to reduce process-related emissions, which is a challenge in developing countries. development that have not yet built the majority of a built structure.
?? Developed countries should also provide leading markets for green technology products and reduce costs so that these can be deployed in developing economies as well, on a large scale, ?? Yadav said.
The meeting was co-chaired by Swedish Deputy Prime Minister and Environment Minister Per Bolund, who welcomed the new members of the LeadIT group and said industries play an important role in achieving the net target zero, leading to the achievement of the Paris Agreement target and the creation of new green opportunities.
He also stressed the importance of cooperation between countries and investments for the transformation towards a fossil-free future, and on the need to find more friends, including the private sector and civil societies.
He said public-private partnership and demand creation are contributing to drastic reductions in emissions and the creation of green jobs.
During the event, John Kerry, the president’s special climate envoy, said it is important to explore opportunities that combine technology and finance, and LeadIT will help countries hold hands and mobilize to achieve the goals of net zero in the industrial sector. sector.
Mahendra Singhi of Dalmia Cement highlighted the need to decarbonize and achieve net zero, for which LeadIT has an important role to play and mentioned that Dalmia Cement has set itself the goal of achieving net zero by 2040, which can be achieved sooner if support is received.
The event brought together LeadIT member countries and companies including Argentina, Austria, Australia, Denmark, Ethiopia, Finland, France, Germany, Ireland, Luxembourg , the Netherlands, Sweden, the United States, the United Kingdom, the Ukraine, Dalmia Cement, Heidelberg Ciment, LafargeHolcim, ThyssenKrupp, SSAB, Scania, Skanska, as well as the Under-Secretary-General of the United Nations, the World Economic Forum, etc.
Ukraine, which is not yet a member of the LeadIT group, has indicated that it has submitted its willingness to join the initiative.
The Netherlands mentioned Mission’s integrated biorefineries which are implemented in collaboration with the Biotechnology Department under Mission Innovation.
The World Economic Forum looked forward to the implementation of the 2030 plan.
The event saw the adoption of the LeadIT 2021 Summit legal declaration by Indian and Swedish ministers.
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