(MENAFN- KNN India) New Delhi, Apr 18 (KNN) Sweden is working out a comprehensive plan to assist India in implementing Article 6 of the Paris Agreement and achieving its net-zero emissions target before 2070, according to three Swedish officials.
The focus of this collaboration will be on heavy industries, such as steel and cement, which are significant contributors to greenhouse gas emissions, reported Mint.
Article 6 of the Paris Agreement outlines how countries can pursue voluntary cooperation to reach their climate targets and unlock financial support for developing nations. Under this framework, countries can transfer carbon credits earned from reducing emissions to help others meet their climate goals.
The initiative comes at a crucial time when Indian manufacturing companies, particularly steel exporters to Europe, are gearing up to comply with the European Union's stringent Carbon Border Adjustment Mechanism (CBAM) rules.
Swedish officials revealed that the collaboration has been underway, with over 30 workshops conducted across several sectors, including heavy industries, paper, pulp, and automotive. The Swedish Energy Agency and Vinnova, Sweden's innovation agency, are spearheading these efforts.
Ludvig Lindstrom, a senior business developer at the Swedish Energy Agency, emphasised the importance of addressing the entire value chain, from energy supply and raw materials to the production process itself, to reduce emissions and accelerate the transition to a sustainable future.
“The work in India has been going on since 2009 and the backbone of our work here is Sweden-India innovations accelerator programme for small and mid-sized businesses that have innovative solutions related to energy," Lindstrom added.
The collaboration will be conducted under the umbrella of the Paris Agreement, with a specific focus on implementing Article 6 to support India's journey towards carbon neutrality before 2070.
In addition to the climate collaboration, Sweden and India are exploring opportunities to strengthen their partnership in other sectors, such as space, retail, petrochemicals, and specialty chemicals. Plans are underway to establish centres of excellence and amend existing memorandums of understanding (MoUs) to facilitate cooperation in areas like renewable energy and energy efficiency.
As the world grapples with the urgent challenge of climate change, international cooperation and knowledge-sharing initiatives like this Sweden-India collaboration are crucial steps towards achieving a sustainable and carbon-neutral future.
(KNN Bureau)
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