India & Sweden Host Industry Transition Dialogue with Focus on Low Carbon Manufacturing

India and Sweden hosted the Industry Transition Dialogue as part of their joint initiative, Leadership for Industry Transition (LeadIT) yesterday in Stockholm. LeadIT initiative focuses on difficult-to-address sectors that are key stakeholders in global climate action and require targeted interventions.

This high level of dialogue has contributed to the UN Conference 'Stockholm+50: a healthy planet for the prosperity of all – our responsibility, our opportunity,' which will be held on June 2 and 3, 2022, and has set the agenda for COP27.

The event began with remarks from India's Union Minister of Environment, Forests, and Climate Change, Bhupender Yadav, and Sweden's Minister of Climate and Environment, Annika Strandhall.

The Union Minister congratulated the world on the upcoming 50th anniversary of the United Nations Conference on the Human Environment, which took place in 1972 and brought environmental issues to the forefront of international concerns. He emphasized that now is the time to celebrate 50 years of collaborative action while also reflecting on what has been accomplished and what remains to be done.

"The developing world requires an industrial renaissance, not just an industrial 'transition,' a flowering of industries that will create jobs and prosperity while also protecting the environment." "With their historical experiences, developed countries must take the lead in the global transition to net-zero and low-carbon industry," the minister stated.

Japan and South Africa, the initiative's newest members, were warmly welcomed. This brings LeadIT's total membership to 37, including countries and companies. The minister also updated the audience on the initiative's progress, which includes sectoral road mapping, workshops, and industrial field visits to facilitate knowledge sharing and collaborative efforts.

India presided over the roundtable discussions on Priorities for Implementation 2022-23 during the event. All of the speakers agreed on the importance of speed and scale in climate action.

Countries and businesses shared their initiatives, success stories, and future plans. The participants shared some very specific and valuable insights.

Domestic actions, if well implemented and communicated, were thought to be a valuable inspiration at the international level. The efforts and exchanges that take place on such platforms have the potential to point the world in the right direction. Commitments and pledges must now be translated into mitigation and adaptation action based on climate finance and technology transfer.