United Kingdom – During COP26, 28 companies agreed to increase the demand for and supply of hydrogen.
H2Zero is a new effort that will expedite the use and production of hydrogen as a critical component of the future net-zero energy system.
28 enterprises from mining to energy, car and equipment makers, and financial services have made pledges in three categories: demand, supply, and financial or technical support.
According to the Hydrogen Council, the decarbonization potential for hydrogen in 2030 might correspond to an estimated 800 million tonnes per annum (mtpa) of averted carbon dioxide (CO2) emissions. The stated pledges amount to approximately one-quarter of the total.
On the demand side, the commitments – which total 1.6 million tons per year of lower-carbon-intensity hydrogen – are aimed at substituting grey hydrogen, which is currently widely used in the refining, chemical, and fertilizer sectors, or diesel fuel, which is utilized in heavy industries such as mining. This will reduce carbon dioxide emissions by more than 14 million tons per year, which is the equivalent of more than six million cars in Europe.
On the supply side, the pledges total more than 18 million tons per year of lower-carbon hydrogen. If grey hydrogen, natural gas for industrial heat, and petroleum fuels in transportation are replaced, this would save around 190 million tons of CO2 emissions per year. This is about the same as the combined annual emissions of the Netherlands and Tunisia.
To transform the global energy system, significant coordination between the business and public sectors will be required. Policymakers must establish a strong investment framework to speed the deployment of clean hydrogen, thereby offering countless chances for employment and economic development.
