Union Environment Minister Bhupender Yadav on Wednesday said that developed countries must take lead in the global transition towards net zero and low carbon industry transition. Yadav was 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 conference is being held to commemorate 50 years of the Stockholm Conference — the first United Nations conference on environment.
LeadIT gathers countries and companies committed to action to achieve the Paris Agreement climate goal. It was launched by the governments of Sweden and India at the UN Climate Action Summit in September 2019 and is supported by the World Economic Forum (WEF).
The Stockholm conference led to the creation of the UN Environment Programme that is now an influential global voice on the state of the environment.