Permanent Mission of India
New York

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Turning the Moment into Momentum
Scaling a just and resilient industry transition in turbulent times

Statement by Shri Sibi George, Secretary (West)
23 September 2025

Excellencies, Distinguished Co-lleagues, Ladies and Gentlemen,

It is a pleasure to address you today. I wish to begin by thanking our partners, the Government of Sweden, for their steadfast collaboration with India in co-chairing the Leadership Group for Industry Transition (LeadIT).

Excellencies,

We meet at a defining moment. The United Nations Secretary-General has reminded us that the world is at a crossroads: either we accelerate the transition to a clean, just, and resilient economy—or we accelerate towards crisis. Heavy industry, including steel, cement, aluminium, and heavy transport, lies at the very heart of this choice. These sectors are the backbone of our economies, yet they account for nearly 30 per cent of global CO₂ emissions. Decarbonising them is both a challenge and an opportunity. Encouragingly, breakthroughs in low-carbon technologies—green hydrogen, electrified production processes, and carbon capture—are becoming commercially viable.

Yet deployment remains slow and geographically uneven. For developing countries, where industrial growth is essential for jobs and prosperity, the transition must proceed without sacrificing equity or inclusivity. This is precisely why LeadIT was created.

Launched in 2019 at the UN Secretary-General’s Climate Action Summit, LeadIT today brings together 18 member countries and 28 leading companies. Its mission is simple but vital: to align industrial decarbonisation with just and equitable outcomes. Under India and Sweden’s co-chairmanship, LeadIT has become a trusted platform where governments, industry leaders, and financial institutions work collaboratively to share technology, mobilise finance, and design solutions that are scalable and fair.

Excellencies,

India is proud to play a leading role in decarbonisation efforts. Our national targets—to achieve net zero by 2070, and to reach 50 per cent of cumulative electric power installed capacity from non-fossil sources by 2030—set a clear direction. We are pioneering initiatives in green hydrogen, energy efficiency, circular economy practices, and renewable deployment. Importantly, India has also launched a National Green Steel Policy and related initiatives, which aim to accelerate adoption of low-carbon production pathways in one of the world’s largest steel industries. Efforts such as piloting hydrogen-based steelmaking, promoting scrap recycling through the Steel Scrap Recycling Policy, and establishing green steel standards are ensuring that this vital sector becomes a driver of climate solutions while maintaining competitiveness. Through schemes like the Perform, Achieve, and Trade (PAT) mechanism and the National Hydrogen Mission, we are demonstrating how industrial competitiveness and decarbonisation can advance together.

Through LeadIT, India is also supporting Global South countries in designing roadmaps that balance growth and climate imperatives. This includes technical assistance, pilot projects, and creating pathways for affordable finance. We believe that industrial decarbonisation cannot succeed without scaling up concessional and blended finance, ensuring open and equitable technology transfer, and strengthening cross-border cooperation.

As we look ahead to COP30, the world must move beyond pilot projects to global, large-scale deployment. LeadIT has a crucial role in supporting this shift—by building trust across regions, catalysing finance, and ensuring that the transition remains just and resilient in a time of geopolitical turbulence.

Excellencies,

The India–Sweden partnership in LeadIT exemplifies the spirit of North–South cooperation that the climate challenge demands. Together, we can ensure that the industry transition is not only green, but also inclusive, resilient, and truly global.

Thank you.

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