Australia's Green Hydrogen Certification and Potential Impact on Investment
Key Ideas
  • Australian parliament is considering Future Made in Australia laws to track and verify emissions associated with hydrogen, renewable electricity, and other energy sources.
  • The certification scheme aims to hold producers accountable for green hydrogen production using renewable energy, aligning Australia with best practices and potentially attracting investors.
  • Experts highlight the urgency in attracting investment for clean energy industries, especially in regions like Western Australia lacking renewable energy targets.
  • The legislation aims to boost confidence among investors and promote the shift to clean and green hydrogen to replace fossil fuels, aligning with global decarbonization efforts.
The Australian Hydrogen Council chief executive Fiona Simon emphasized the importance of passing the Future Made in Australia laws to track and verify emissions related to hydrogen and renewable electricity. This legislation aims to establish a certification scheme that would ensure accountability for green hydrogen production using renewable energy sources. The scheme, similar to Europe's framework, seeks to promote clean and green hydrogen to replace fossil fuels, aiding in the global decarbonization process. However, concerns have been raised by experts, including the WWF-Australia industry decarbonisation expert Nicole Wyche, about the urgency of attracting investors to the clean energy sector. The legislation is seen as fundamental to showcasing Australia's alignment with best practices and potentially avoiding the carbon border adjustment mechanism that could impact exports. It is crucial for regions like Western Australia, lacking renewable energy targets, to attract investment and support the development of clean energy industries. Overall, the sentiment towards hydrogen in the article is positive, highlighting the role of certification schemes in boosting investor confidence and driving the transition to cleaner energy sources. The urgency to act swiftly in attracting investment is emphasized to support major industrial revolutions in the clean energy sector.
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