Leadership Group for Industry Transition(LeadIT)?
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Launched by: LeadIT was launched by the Prime Ministers of Sweden and India with support from the World Economic Forum (WEF) during the UN Secretary-General’s Climate Action Summit in 2019, in New York.
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Purpose: Voluntary initiative for promoting low-carbon transition through active participation of private sector companies. Especially in the sectors like Iron & Steel, Aluminium, Cement and Concrete, petrochemicals, fertilisers, bricks, heavy-duty transport.
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Members: Currently, the Group has a membership of 16 countries and 19 companies including Dalmia Cement, Mahindra Group and SpiceJet from India.
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Secretariat: It is hosted by Stockholm Environment Institute (SEI), Sweden.
What is the significance of the LeadIT Initiative?
Industry sectors together contribute about 30% of the total CO2 emissions. Hence, initiatives like LeadIT to drive low carbon development pathways in the industry sector are critical for achieving the goals of the Paris Agreement.