What is the Leadership Group for Industry Transition (LeadIT) 2.0?

About Leadership Group for Industry Transition (LeadIT) 2.0

• Since its inception in 2019, LeadIT has grown into a collaborative effort involving 18 countries and 20 industry-leading companies. 
• The LeadIT initiative, initially centered around pivotal sectors such as iron, steel, cement, and aluminum, focused on industry transition and knowledge sharing.
• LeadIT has played a pivotal role in accelerating the adoption of low-carbon technologies, aligning with global environmental goals.
• Three core areas of LeadIT 2.0:
  • Inclusive and Just Industry Transition: Ensuring that industry transitions are not only efficient but also equitable, promoting fairness and inclusivity in the process.
  • Low Carbon Technology Development and Transfer : Placing renewed emphasis on the development and seamless transfer of low-carbon technologies, crucial for achieving sustainable practices across industries.
  • Emerging Economy Technology Transfer: Facilitating the expedited transfer of innovative solutions to emerging economies, assisting in their transition to more sustainable practices.
• It serves as a platform for public-private collaboration, fostering sector-specific and cross-sectoral learning, especially concerning innovation opportunities and new technologies.

Q1) What is UNFCCC?

The UN Framework Convention on Climate Change (UNFCCC) sets out the basic legal framework and principles for international climate change cooperation with the aim of stabilizing atmospheric concentrations of greenhouse gases (GHGs) to avoid “dangerous anthropogenic interference with the climate system.”

Source: India-Sweden Industry Transition Partnership, LeadIT 2.0 Launched at COP28 Dubai