The developed countries must take lead in the global transition towards net zero and low carbon industry transition, Union Environment Minister Bhupender Yadav said, Trend reports citing Indian Express.
Addressing the Industry Transition Dialogue hosted by India and Sweden in Stockholm, Yadav said, “The developing world needs not just an industrial transition, but rather an industrial renaissance - a flowering of industries and sectors that will together create jobs, prosperity and a clean environment. The transition trajectory will vary for different countries based on their national circumstances.”
“The developed countries with their historical experiences must take lead in the global transition towards net-zero and low carbon industry transition. The green premium associated with zero or low carbon technologies must be compensated to trigger demand at a required scale in appropriate ways,” Yadav said.
The event, organised as a part of India and Sweden’s joint initiative - Leadership for Industry Transition (LeadIT) - was also addressed by Sweden’s Minister for Climate and the Environment Annika Strandhäll.
In a statement, the Ministry of Environment, Forest and Climate Change said, “During the event, India chaired the roundtable dialogues on priorities for implementation 2022-23. The need for speed and scale in climate action was echoed by all the speakers.”
“The countries and companies shared their initiatives, success stories and plans for future. Some very specific and valuable insights were shared by the participants,” the statement further said.