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
  

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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,* puts 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 worldwide.

*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, Fuel Cell & Hydrogen Energy Association (FCHEA), IH2A India Hydrogen Alliance, Hydrogen Ireland, Japan Hydrogen Association, H2 México Asociación Mexicana de Hidrógeno, MENA Hydrogen Alliance, Hydrogen New Zealand, Hydrogen UK.

¹ Emerging trade corridors for hydrogen and its derivatives, Hydrogen Council – International Hydrogen Trade Forum joint initiative, May 2024

About The Hydrogen Council

The Hydrogen Council is a global CEO-led initiative with a united vision and long-term ambition for hydrogen to accelerate the clean energy transition. It brings together a diverse group of 140 companies from 20 countries across Americas, Europe, Africa, the Middle East, and Asia Pacific. Spanning the entire value chain, and including large multinationals, innovative start-ups as well as investors, the Council’s membership represents some $9 trillion in market capitalization, 6.8 million in FTEs, and some $6.4 trillion in revenues.

The Council is committed to unlocking the sustainability potential of clean hydrogen, fostering business and technological innovation as drivers for sustainable growth, creating quality jobs, and delivering social value. Using its global reach to promote collaboration between industry, governments, investors, and the civil society, the Council provides insights on and pathways for accelerating the deployment of hydrogen ecosystems around the world. It also supports the development of international safety and sustainability standards, paving the way for the deployment of reliable hydrogen solutions at scale.

To find out more visit www.hydrogencouncil.com and follow us on LinkedIn and X @HydrogenCouncil.