Unlocking the Global Market: COP29 Endorses Hydrogen Declaration
Key Ideas
- Hydrogen Europe endorses the COP29 Hydrogen Declaration to promote a global market for clean hydrogen and its derivatives, aligning with efforts to reduce greenhouse gas emissions and achieve climate goals.
- The declaration emphasizes the importance of scaling up hydrogen through various actions such as demand creation, standards, finance, and sustainability, urging countries to integrate hydrogen into their national climate and energy plans.
- The Hydrogen Council-led initiative complements the declaration by focusing on accelerating the deployment of clean hydrogen and its derivatives by 2030, showcasing the industry's commitment to driving the energy transition forward.
- Industry leaders like Hydrogen Europe and the Hydrogen Council express support for the COP29 Hydrogen Declaration, acknowledging hydrogen's pivotal role in global climate discussions and emphasizing the need for collaborative efforts to advance renewable and low-carbon hydrogen production and deployment.
In a significant move, Hydrogen Europe has endorsed the Hydrogen Declaration of the COP29 Presidency, highlighting the aim to foster a global market for clean hydrogen and its derivatives. This declaration, supported by various UN bodies, focuses on addressing greenhouse gas emissions and advancing global climate ambitions through the collective progress on hydrogen initiatives. Building upon the commitments made at COP28, the COP29 Hydrogen Declaration seeks to accelerate the transition towards low-carbon hydrogen production, phase-out of fossil fuels, and the substantial increase of renewable energy capacity by 2030.
The declaration outlines key actions to scale up hydrogen, including encouraging demand creation, establishing standards and certification frameworks, enhancing finance mechanisms, promoting capacity building, facilitating trade, supporting research and development, and ensuring sustainability practices. Countries are urged to incorporate hydrogen into their national climate and energy strategies and monitor the progress at COP30.
The Hydrogen Council, led by Ivana Jemelkova, has shown support for the COP29 Hydrogen Declaration, emphasizing the critical role of hydrogen in the energy transition. The council's open letter underscores the necessity for bold actions to integrate hydrogen into the Nationally Determined Contributions by 2025 and accelerate the deployment of clean hydrogen and its derivatives by the end of this decade. Industry partners, including Hydrogen Europe, have come together to back this initiative, recognizing the rapid growth of hydrogen investments and projects worldwide.
Jorgo Chatzimarkakis, CEO of Hydrogen Europe, praises the COP29 Hydrogen Declaration as a crucial step in acknowledging the rising significance of hydrogen in global climate dialogues. The declaration highlights the pressing need for cost-effective means to transport and store renewable energy following the previous commitment to triple renewable capacity. Hydrogen Europe commits to collaborating with its extensive network to boost renewable and low-carbon hydrogen production and utilization, aligning with the goals set forth by the COP29 Presidency.
The industry's joint efforts, as showcased through the COP29 Hydrogen Declaration and the support from key organizations like Hydrogen Europe and the Hydrogen Council, reflect a positive momentum towards leveraging hydrogen as a fundamental tool in achieving sustainable energy transition and mitigating climate change.
Topics
Production
Renewable Energy
Energy Transition
Decarbonisation
Green Energy
Global Market
Industry Collaboration
COP29
Climate Ambitions
Latest News