At the COP26 global climate conference currently underway here, the Union Minister for Environment, forests and climate change, Mr Bhupender Yadav on Tuesdsay exhorted companies from hard-to-abate industries such as aluminium, cement, petrochemicals, fertilisers, bricks and heavy-duty transportation to join LeadIT, which is a global, voluntary initiative for promoting low-carbon transition.
Delivering the opening remarks at the LeadIT Summit, 2021, Yadav noted that the industry sectors contribute about 30 per cent of total carbon dioxide emissions; as such, efforts to drive low carbon pathways are critical for achieving the Paris Agreement goals.
Green Technologies adoption
The Minister pointed to 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. He 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.
“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,’’ Yadav said.
The meeting was co-chaired by the 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 achievement of the net zero target, leading up to achievement of the Paris Agreement goal, and creation of new and green opportunities.
Bolund also underlined on the importance of cooperation between countries and investments for transformation to a fossil free future, and on the need to find more friends including private sector and civil societies. He added that public private partnership and creation of demand help in radical emission reductions and creation of green jobs.
Mr John Kerry, Special Presidential Envoy for Climate, US 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.
Mahendra Singhi, Managing Director and CEO, Dalmia Cements 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, US, UK, Ukraine, Dalmia Cement, Heidelberg Cement, LafargeHolcim, ThyssenKrupp, SSAB, Scania, Skanska, as well as the UN Assistant Secretary General, World Economies Forum etc.
Ukraine, who is not a member of the LeadIT group yet, informed that it has submitted its willingness to join the initiative. Netherlands mentioned about the Mission Integrated Biorefineries that is being implemented in collaboration with 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.