SAIL joins LeadIT at Sweden

New Delhi, June 28, 2024: Steel Authority of India Limited (SAIL) announced its recent induction as a member of The Leadership Group for Industry Transition (LeadIT) which was announced on June 25, 2024 at the ‘Engaging India at Almedalen’ held in Visby, Sweden.

LeadIT 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. LeadIT is an alliance of countries and forward-thinking companies that are committed to action to achieve the Paris Agreement and net-zero transition. LeadIT members subscribe to the notion that energy-intensive industry can and must progress on low-carbon pathways, aiming to achieve net-zero carbon emissions by 2050. This strategic move of SAIL to align with the LeadIT vision emphasizes SAIL’s commitment to climate action and also aligns the company with global efforts to combat climate change. By joining LeadIT, SAIL will have access to sectoral and cross-sectoral learning, gain valuable insights into new technologies and collaborate for innovative opportunities.

While recently visiting Sweden to firm up the collaboration, Amarendu Prakash, Chairman, SAIL, was a guest speaker at the session with the theme ‘Samband for Climate Action’. He commented, “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 to ensure that it is done sustainably. Realizing the significance of climate change and the urgent need for climate change action, we see it as a survival question for the world and we firmly believe that only a collaborative approach on world scale can address this challenge faced by the humanity. We find LeadIT is a great platform where both governments as well as the industry are actually coming together to share ideas, bring in thoughts and look for collaborative innovation to solve this problem”.