COP27 HYDROGEN INITIATIVE

A 12-month hydrogen action plan was created by the signatories to the Breakthrough Agenda initiative, which was supported by the COP26 climate summit in Glasgow last year (2021), and included the deployment of 100 hydrogen projects as well as the creation of a unique certification and accreditation program.

The “breakthrough agenda” initiative’s actions are intended to lower energy costs and improve food security and are focused on sectors that account for more than 50% of the world’s greenhouse gas emissions.

The signatories to the “Breakthrough Agenda” initiative, who together account for 50% of global GDP, announced their hydrogen priorities for the year (2023) as part of the action plan for 25 sectors that are particularly difficult to mitigate during the current COP27 climate summit in Egypt.

The deployment of “50 large-scale carbon-neutral industrial facilities” is expected to enhance the demand for hydrogen, which is a way to decarbonize cement, steel, and other industries.

The initiative’s signatories stated that they desired more hydrogen projects throughout various geographic regions and end-use industries, but they did not provide any information regarding the geometry of the “hydrogen valleys”.

The Breakthrough Agenda wants to implement its own certification and standards program and take advantage of the next COP28 climate meeting.

According to a study reviewed by the specialist energy platform, the project intends to provide industry players with an explanation of the carbon dioxide intensity of renewable and low-carbon hydrogen, which is necessary for trade.

The International Partnership for Hydrogen and Fuel Cells in the Economy, which was founded in 2003 with assistance from IRENA and the International Energy Agency, has been tasked with managing the program.

The program is searching for several groups to synthesize the work, coordinate, and rationalize activities more; nevertheless, reaching a consensus will not be simple given that previous attempts at it have failed.

The World Bank and the United Nations Industrial Development Organization are among the top financial institutions that nations aim to cooperate with in order to assess funding options and make hydrogen projects more accessible.

In order to send a clear message of demand, countries will increase their pledges to use hydrogen in a variety of industries.

The Breakout Agenda team pledged to create a thorough plan for international hydrogen activities in order to find overlaps and gaps that need to be filled.

As the group works toward developing affordable, widely accessible, renewable, low-carbon hydrogen by 2030, progress will be evaluated at the following Climate Summit, with additional targets set on an annual basis.