Fueling Net Zero: Deloitte's Call for Urgent Action on Clean Hydrogen in Asia Pacific
Key Ideas
- Deloitte emphasizes the crucial role of clean hydrogen in achieving net zero emissions in the Asia Pacific region.
- The report highlights concerns about limited project progress due to factors like risk appetite and cash flow predictability.
- Asia's heavy industries like aviation, shipping, and steelmaking stand to benefit the most from the transition to clean hydrogen.
- Urgent and coordinated efforts are necessary to establish viable pricing structures and regulatory frameworks for successful hydrogen implementation.
Deloitte's report underscores the significance of clean hydrogen in the decarbonization journey towards achieving net zero emissions in the Asia Pacific region. While the potential for clean hydrogen to revolutionize hard-to-abate sectors and unlock economic opportunities is vast, concerns about limited project advancement linger. The report stresses that early wins in clean hydrogen are pivotal for success, especially with net zero deadlines approaching rapidly. Industries such as aviation, shipping, and steelmaking are identified as key beneficiaries of transitioning to clean hydrogen. Despite the immense market potential worth around $950 billion by 2050, challenges like risk allocation, pricing structures, and regulatory frameworks need urgent attention. Deloitte urges stakeholders to collaborate effectively to capitalize on the opportunities within the hydrogen economy and ensure a smooth transition towards a zero-emission future.
Topics
Asia
Decarbonisation
Market Potential
Emission Reduction
Economic Opportunities
Regulatory Frameworks
Stakeholder Collaboration
Import Dependency
Industrial Transition
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