 "Tata Steel joins LeadIT to drive net-zero industry transformation")
Tata Steel has joined the Leadership Group for Industry Transition (LeadIT), a global initiative to accelerate the transition to net-zero emissions in heavy industry, the company said on Wednesday.
LeadIT was created by the governments of Sweden and India during the UN Climate Action Summit in September 2019 and is backed by the World Economic Forum.
The group brings together governments, companies, investors, and other stakeholders to share best practices, develop new technologies, and advocate for policies that support the transition to a net-zero emissions economy.
Tata Steel's membership in LeadIT is a significant milestone for the company, as it positions Tata Steel as a global leader in the drive to decarbonize the steel industry.
Tata Steel has set a goal to become net-neutral in carbon emissions by 2045, and joining LeadIT will help the company achieve this goal by providing access to a network of experts and resources.
"Tata Steel's membership in LeadIT presents a significant opportunity for us to amplify our endeavours towards carbon neutrality," said Tata Steel VP, Technology and R&D, Debashish Bhattacharjee.
More From This Section
The company said that it would work with LeadIT to share its experiences in developing and deploying low-carbon steel making technologies and to advocate for policies that support the transition to a net-zero emissions economy.
"Tata's ambitious goal of attaining carbon neutrality by 2045 paves the way for low-carbon steel production," said Per Andersson, Head of the LeadIT Secretariat.