EGYPT – Since the LeadIT initiative was launched by India and Sweden in September 2019, it has paved the way, providing technical guidance and political impetus for action on industry transition. With an increase in membership the countries of LeadIT today account for over half of the world’s economy.
The importance for heavy industry to reduce emissions sharply for the world to reach the target of the Paris agreement is increasingly recognized by governments and companies. This is reflected in the National Determined Contributions. A recent assessment by LeadIT of industry transition measures captured in the second round of NDCs confirms that a majority now include heavy industry in their scope, and almost two-thirds include detailed industry transition measures, showing progress in the coverage of industry transition compared to the first round in 2019. 12 out of the 15 highest industrial emitters now specify mitigation measures that address industry.
Despite increased attention to industry transition progress is too slow. On November 15 LeadIT will gather its members, 18 countries and 19 companies from all continents, for the LeadIT Summit that will take place alongside COP27 in Sharm El-Sheik. The Summit will adopt a Summit Statement delivering collective calls and commitments by LeadIT Members to accelerate industry transition in the coming year.
Register for the event
Media is welcome to attend the launch of the Summit Statement that will be presented with special remarks by Bhupender Yadav, Minister of Labour and Employment, Environment, Forest and Climate Change, India, and Romina Pourmokhtari, Minister for Climate and the Environment, Sweden. A panel with key public and private stakeholders will discuss how to catalyze action for industry transition in 2023.
Time: 15 November 14.00-15:30 (EET)
Venue: India Pavilion, Blue Zone
14:00 Presentation of LeadIT Summit Statement
14:05 Special remark, India
14:15 Special remark, Sweden
14:25 Panel discussion
15:25 Closing remark by LeadIT Secretariat