Global hydrogen alliance urges more investments to achieve Net-Zero targets
Global Hydrogen Industrial Association Alliance (GHIAA) came up with a statement on Nov. 4 to ask GOP27 in Egypt to take more drastic measures related to hydrogen.
The 2022 United Nations Climate Change Conference, otherwise known as COP27, will take place in Sharm El-Sheikh, Egypt, from Nov. 6 through Nov. 18.
In time for the UN meeting, GHIAA urged participants and other stakeholders to support and invest in the hydrogen industry to achieve Net-Zero targets and secure clean energy supplies.
“Hydrogen is an essential element of decarbonization and is an infinite clean energy source that can be produced,” GHIAA Chairman Moon Jae-do said.
“It has the potential to reduce carbon emissions in several industrial sectors, including transportation, heating, and heavy industry.”
However, GHIAA was concerned that the world had failed to speed up its investment in building the hydrogen ecosystem.
The Hydrogen Council recently said that the world would be required to spend $700 billion by 2030 to realize a carbon-free economy by 2050. But thus far, only $21 billion has been spent on that.
“For the rapid transition to the global hydrogen economy, international cooperation is essential,” said Chairman Moon, who also leads the H2Korea.
“Through this, opportunities for the growth of the global hydrogen industry and the expansion of the hydrogen market will be created with mutual cooperation. GHIAA will actively support this and play the role of a bridge.”
GHIAA was launched this year by organizing 20 hydrogen industry associations around the world.
The followings are the full text of the GHIAA statement for COP27 _ ED.
GHIAA statement for COP27
GHIAA, which is organized by 20 hydrogen industry associations around the world, called on COP27 participating nations and parties to support investment and technology development and to expedite international cooperation and collaborations for action on the hydrogen economy to implement a net zero target.
1. We, members of GHIAA, collectively welcome that more governments have been recognizing hydrogen as an essential component for achieving carbon neutrality and tried their best to transform their visions into actions as shown in the appendix.
2. Notwithstanding these positive developments, it goes without saying that there are still a lot of challenges to be done by private and public entities. To solve this problem, it is necessary to maximize hydrogen utilization technology, develop clean hydrogen production technology, expand scale-up and infrastructure, and establish an international system for hydrogen trade. It is also urgent to raise funds for continuous investment to address these issues.
3. In order to realize their strategies into action, we call on governments to establish an inclusive policy framework, e.g. to set clear targets for clean hydrogen to decarbonize every sector of the economy as much as possible, establish public hydrogen financing scheme as practically as possible, invest in infrastructure for hydrogen supply chain, and apply globally recognized standards. These certification schemes aim to promote the international trade of clean hydrogen as fairly and transparently as possible.
4. Accordingly, we commit that GHIAA will work closely together to enhance multilateral private cooperation in the dissemination of best practices, technology transfer, and mutual investment.