Business News | Towards a Greener Future: India and Sweden Unite to Accelerate Green Growth and Industry Transition'

VMPL

New Delhi [India], March 14: Almost halfway through 2030, the world is far behind from meeting the Sustainable Development Goals (SDGs). We are at a point where we need to expedite our efforts to get back on track, before it gets too late and the challenges become insurmountable. It's time for global collaboration and innovative solutions to advance the efforts to secure the future of the coming generation.

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Acknowledging the urgency to act in this direction, India and Sweden inaugurated India-Sweden Sustainability Day on March 4, 2024, celebrating a significant milestone in their bilateral relationship. The event focused on "Accelerating Green Growth and Industrial Transition," and highlighted the mutual commitment towards a sustainable and carbon-neutral future by addressing global climate and transition challenges.

Both countries solidified their commitment to building a sustainable future by signing the Memorandums of Understanding (MoUs) in the areas of energy, environment, and urban development, aimed at promoting cooperation.

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Addressing the gathering, Mr. Jan Thesleff, Ambassador of Sweden to India, highlighted the role of sustainability in ensuring the needs of both present and future generations. He stated that "Sustainability is the ability to meet the needs of today without jeopardizing the satisfaction of the needs of tomorrow."

The event was held by Team Sweden which includes the Embassy of Sweden, the Consulate-General in Mumbai and Business Sweden in collaboration with the Swedish Energy Agency and Vinnova.

Emphasising the significance of industry transition, Mr. Hakan Jevrell, Sweden's State Secretary to the Minister for International Development Cooperation and Foreign Trade said, "Decarbonisation of the heavy industry is perceived as feasible now, thanks to the Swedish companies that are producing fossil-free steel".

Discussions during the event underscored the importance of embracing transformative technologies and solutions to drive sustainable development. Key focus areas included sustainable energy, carbon footprint reduction across hard-to-abate sectors, harnessing technology and innovation for a green future, and measures to enhance strong sustainable balanced and inclusive growth.

Several cases of successful impact created were also exhibited during the course of the day between Swedish technology providers and their Indian counterparts along with a panel discussion on Harnessing Technology and Innovation for a Green Future.

Reflecting on the collaborative journey between Sweden and India, Cecilia Oskarsson, Trade & Invest Commissioner of Sweden to India & South Asia, remarked, "Team Sweden in India has been committed in its endeavour to "Pioneer the Possible'" together with India by providing innovative solutions and best-in-class technologies and expertise for the heavy industry. The Sustainability by Sweden Ecosystem has become an established engine of collaboration for a cleaner, greener tomorrow."

Sweden and India are working together to speed up their transition to clean energy. They are involved in initiatives such as the International Solar Alliance (ISA) and collaborating on research and development projects through partnerships with international organizations. Swedish companies such as Alfa Laval, SPOWDI, SaltX, Aliema, Kraftpowercon, and Atlas Copco are jointly working with Indian stakeholders in the field of innovation and sustainability.

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