Hyundai chief addresses global policymakers
Hyundai Motor Group Executive Vice Chairman Chung Eui-sun has stressed that a hydrogen-powered society is the most viable solution in achieving the transition to clean energy.
The de facto chief of Korea’s second-largest conglomerate shared his belief at a gathering of the G20 Ministerial Meeting on Energy Transitions and Global Environment for Sustainable Growth.
He emphasized that hydrogen could account for almost one-fifth of total energy consumed by 2050, according to a Hyundai official.
“Chung urged leaders from all sectors, beyond energy and transport, to join the Hydrogen Council in demonstrating the potential of hydrogen for tackling global energy needs,” the official said.
“He made it clear that hydrogen can help governments to deliver significant benefits for their citizens, energy security, environment, and economy.”
Chung expected that hydrogen would reduce carbon dioxide emissions by some 6 gigatons per year compared to today’s levels, thus contributing about 20 percent of the abatement required to limit global warming to 2 degrees.
The 48-year-old also noted that hydrogen could create a $2.5 trillion market and create more than 30 million jobs across the world.
At an event ahead of the G20 Ministerial meeting, Chung also talked about the value of strong collaboration among key stakeholders.
In a welcome address, the tycoon encouraged business, investors, and governments to kick off discussions on how to create the right environment and make available the right tools to drive this change.
During the exclusive event, Hydrogen Council members presented a selection of concrete, multi-billion projects currently developed by the industry.
The Hydrogen Council is aimed at helping to facilitate collaboration between key stakeholders, hosts events geared toward international advocacy, and educates the public about the pragmatism of hydrogen.