C-suite representatives of 18 leading multinationals will come together at the 2017 UN Climate Change Conference to launch the first-of-its-kind global roadmap for hydrogen (H2): Hydrogen, scaling up.
The conference – COP 23 – aims to launch nations towards the next level of ambition needed to tackle global warming and put the world on a safer and more prosperous development path.
A contribution to the COP 23 climate effort, this pioneering study – with analytical support from McKinsey – will outline a comprehensive and quantified vision of the role H2 technologies in empowering the energy transition.
Publically presented on Monday 13th November in Bonn, Germany, the joint study by the Hydrogen Council will explain how H2 technologies have an important role in achieving global commitments set out in the Paris Agreement; as the world will need to make dramatic changes year after year and decrease energy-related carbon dioxide (CO2) emissions by 60% until 2050 to stay below the 2°C scenario. It will also explain how H2 technologies provide effective solutions for integration of large-scale renewables in the energy system and outline the technologies’ market potential by 2030 and 2050.
A spokesperson from the Hydrogen Council explained, “Assuming alignment of economic dynamic and political will, the study predicts the current H2 market will double over the next 15 years, a pace comparable to the growth of solar and wind.”
“While H2 technologies are already available today and there are no major technical bottlenecks to reach scale, there is a need to anticipate investments and build new business models to deploy these more broadly. Significant cost reductions have already been achieved in some areas; the cost of refuelling stations and fuel cell stack production have been cut in half in the last ten years, for example. The report foresees major reductions in the coming years from scaling up manufacturing to industrial levels. This is why the H2 opportunity needs a strong mobilisation from industrial players, investors and regulators alike.”
Launched at the World Economic Forum in Davos in early 2017, the Hydrogen Council is a first-of-its-kind global CEO initiative to foster the role of H2 technologies in the global energy transition. Current members include 18 leading multinationals - Air Liquide, Alstom, Anglo American, Audi, BMW GROUP, Daimler, ENGIE, General Motors, Honda, Hyundai Motor, Iwatani, Kawasaki, Plastic Omnium, Royal Dutch Shell, Statoil, The Linde Group, Total, and Toyota – as well as 10 dynamic players from across the value chain - Ballard, Faber Industries, Faurecia, First Element Fuel (True Zero), Gore, Hydrogenics, Mitsubishi, Mitsui & Co, Plug Power, and Toyota Tsusho.