Steel Authority of India Limited (SAIL), a Maharatna Public Sector Steelmaker, has proudly announced its recent induction into The Leadership Group for Industry Transition (LeadIT). This announcement was made on June 25, 2024, at the ‘Engaging India at Almedalen’ event held in Visby, Sweden.
Notably LeadIT, launched by the governments of Sweden and India at the UN Climate Action Summit in September 2019, is supported by the World Economic Forum. It is an alliance of countries and forward-thinking companies committed to achieving the Paris Agreement and net-zero transition. Members of LeadIT adhere to the belief that energy-intensive industries can and must advance on low-carbon pathways, aiming for net-zero carbon emissions by 2050.
During a recent visit to Sweden to solidify the collaboration, Amarendu Prakash, Chairman of SAIL, spoke at the ‘Samband for Climate Action’ session. He stated, “The infrastructure push in India is set to be immense and the Indian steel industry has to take the lead in not just building infrastructure but ensuring it is done sustainably. Realizing the significance of climate change and the urgent need for action, we see it as a survival question for the world and firmly believe that only a collaborative approach on a global scale can address this challenge. We find LeadIT to be a great platform where governments and the industry come together to share ideas, bring in thoughts, and seek collaborative innovation to solve this problem.”
It is noteworthy that the SAIL Chairman was accompanied by B.K. Tiwari, Director Incharge of Bokaro Steel Plant who emphasized that SAIL's membership in LeadIT highlights the company's commitment to climate action and aligns it with global efforts to combat climate change. Through LeadIT, SAIL will gain access to sectoral and cross-sectoral learning, insights into new technologies, and opportunities for collaborative innovation, all aimed at advancing green steel production and improving environmental sustainability.
