Hydrogen Council – Industry Leaders Call for Decisive Action on Clean Hydrogen at COP29
Industrial leaders from across the globe call for collective commitment to scale demand for clean hydrogen and its derivatives by 2030 underpinned by robust incentives and mandates.
BRUSSELS, November 11, 2024 – As world leaders gather in Baku this week, a coalition of nearly two dozen industry associations around the globe is calling for urgent action to scale demand for clean hydrogen and its derivatives by 2030, underpinned by robust incentives and mandates.
Accelerating the implementation of the government policies that drive hydrogen deployment can unlock significant environmental, economic and societal benefits by mid-century:
- Abatement of 60-80 gigatons of CO₂,
- Savings of some $3.7 trillion in capital investments, driven by cross-border supply chains for hydrogen and its derivatives,
- Creation of some 25 million good-quality jobs worldwide.[1]
Global investment in hydrogen has grown 7-fold in just the last four years, reaching $75 billion in committed capital across 434 large-scale projects past FID. However, to fully realize its benefits, hydrogen deployment across end use sectors would need to reach some 75 Mt p.a. by 2030. Whereas the mandates and demand-side incentives put forward by governments to date could translate into 7 Mt p.a. by 2030 globally.
This is why the Hydrogen Council, together with the leading partner associations worldwide* put the spotlight on practical actions that can be taken by governments in the next two years to advance deployment, including the implementation of relevant incentives and mandates, infrastructure development, as well as the opportunity to incorporate hydrogen in countries’ 2025 Nationally Determined Contributions to signal continued commitment and attract investment.
We stand ready to work together with governments to accelerate the energy transition, strengthen energy security, and support political stability and just transitions world-wide.
*Ammonia Energy Association, Ammonia Europe, Australian Hydrogen Council, ABH2 Associação Brasileira do Hidrogênio, Canadian Hydrogen Association, H2 Chile Asociación Chilena de Hidrógeno, Clean Fuel Ammonia Association, Hidrogeno Columbia, Hydrogen Council, Hydrogen Europe, FCHEA Fuel Cell & Hydrogen Energy Association, IH2A India Hydrogen Alliance, Hydrogen Ireland, Japan Hydrogen Association, H2 México Asociación Mexicana de Hidrógeno, MENA Hydrogen Alliance, Hydrogen New Zealand, Hydrogen UK.
[i] Emerging trade corridors for hydrogen and its derivatives, Hydrogen Council – International Hydrogen Trade Forum joint initiative, May 2024
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