Dubai, India and Sweden are set to host the LeadIT 2.0 event at COP28, focusing on structured frameworks to support low-carbon transitions. The joint declaration addresses challenges in technology transfer and finance crucial for advancing toward low-carbon mechanisms. India’s Environment Minister, Bhupendra Yadav, emphasized that the platform signifies a commitment to addressing the climate crisis and fostering industries that coexist harmoniously with the environment.
While noting improvements in the global industrial landscape since the launch of the Leadership for Industry Transition initiative in 2019, Minister Yadav highlighted that challenges like technology transfer and finance require collaborative international efforts. LeadIT 2.0, to be held at COP28, will revolve around a global forum for dialogue, technology transfer, co-development, and an industry transitions platform.
At the summit, LeadIT members outlined their mission statement for the initiative’s next phase (2024-2026), affirming dedication to accelerating a just and equitable industry transition aligned with the Paris Agreement. Sweden’s Minister for Climate and Environment, Romina Pourmokhtari, stressed the immense possibilities for regional development, job creation, and technological investments in the green transition. However, she cautioned against the risk of carbon emissions due to the lack of commercially viable low-carbon technology and extended investment cycles in industrial sectors.
The LeadIT 2.0 event aims to shape a sustainable future, addressing the pressing issues hindering global low-carbon industry transitions.
