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UN Climate summit - Shanmugam IAS academy in coimbatore
UN Climate summit

INDUSTRY TRANSITION TRACK LEADERSHIP GROUP

What’s in news?

A new initiative was launched at the UN Climate Action Summit to help guide the world’s heaviest greenhouse gas emitting industries toward the low-carbon economy.

Key data:

  • India and Sweden together with Argentina, Finland, France, Germany, Ireland, Luxembourg, the Netherlands, South Korea and the UK, as well as a group of companies including Dalmia Cement, DSM, Heathrow Airport, LKAB, Mahindra Group, Royal Schiphol Group, Scania, SpiceJet, SSAB, ThyssenKrupp and Vattenfall, announced a new Leadership Group for Industry Transition that will drive transformation in hard-to-decarbonize and energy-intensive sectors. 
  • This global initiative will be supported by the World Economic Forum, the Energy Transitions Commission, Mission Innovation, Stockholm Environment Institute, and the European Climate Foundation among many others in an ambitious, public-private effort, to ensure heavy industries and mobility companies can find a workable pathway to deliver on the Paris Agreement
  • Industry sector emissions, including those from hard-to-abate and energy-intensive sectors like steel, cement, aluminum, aviation and shipping are expected to be responsible for 15.7Gt by 2050.
  • The international collaboration between countries and industry groups is critical to establish workable policy frameworks and incentives, and to enable joint investment into low carbon infrastructure. 
  • Track’s “Leadership Group” will provide opportunities for cooperation in the area of technology innovation and develop low carbon pathways for industry.
  • India and Sweden will continue to lead this group from the front and will ensure collaboration by more countries and help industries learn from each other’s experience.

Examples of industries in India adopting low-carbon technologies:

  • Dalmia Industry is today’ world’s lowest carbon-emitting cement industry and they are working on a plan of carbon capture and use.
  • Kochi Airport is completely solar-powered.
  • SpiceJet airline has already used bio-fuels Bombardier planes and now they are preparing Boeing aircraft to use the fuel.
  • India is taxing coal production so money generated is also available for startups and innovation.

 

UN Climate summit

Links to note:

https://www.iasipstnpsc.in/core-industry/

https://pib.gov.in/PressReleseDetail.aspx?PRID=1585963

https://www.sify.com/finance/industry-to-go-low-carbon-path-to-fight-climate-change-javadekar-news-environment-and-nature-tjykrjaajadjg.html

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