Encourage COP27 participating countries, related organizations and companies to actively implement the hydrogen economy
President Moon Jae-do “Emphasizes the implementation of the hydrogen economy to overcome the global environmental and energy crisis”
[에너지데일리 조남준 기자] The World Hydrogen Industry Association (Chairman Jae-do Moon, hereinafter referred to as GHIAA) issued a statement in support of the relaunch of the global hydrogen economy market and the promotion of the industry on the 3rd, on the occasion of the 27th Framework Convention of United Nations on Climate Change (COP27) It was presented through the COP27 Secretariat and the Egyptian government channel under the common name of hydrogen associations of 20 GHIAA countries including H2KOREA).
In the wake of the 27th United Nations Framework Convention on Climate Change (COP27), to be held in Cairo, Egypt from 6 to 18 November, a statement was made on the importance of implementing a hydrogen economy in participating countries and organizations and companies around the world, emphasizes the urgency and contains the content that a rapid transition to a hydrogen economy should be promoted in order to achieve the goal of carbon neutrality (Net-zero) and, for this, international cooperation, investment, and support for technological development should be promoted.
Furthermore, in the statement, GHIAA stressed that international efforts to supply clean hydrogen are actively pursued by presenting the “state of implementation of the hydrogen economy of 2022” by country shared by member companies.
The foreword to this statement emphasizes that hydrogen is an essential component of decarbonisation and is a clean and infinite source of energy that can be produced and has the potential to reduce carbon emissions in several sectors including transportation, heating and heavy industry. . It also highlighted the benefits of being able to be shipped and traded around the world as clean fuel in liquefied form and derivatives (e.g. ammonia).
Currently, the world is paying attention to hydrogen as an important means of solving the climate crisis and energy security, and it has been studied that around 40 countries have a hydrogen strategy.
Furthermore, according to the recent Hydrogen Council 2022 Hydrogen Insight Report, by 2030 approximately 700 billion dollars of investments in hydrogen are needed to achieve a carbon-free economy by 2050, but it is analyzed that currently only the 3% of the total investment Therefore, he said that it is necessary to quickly and boldly increase investments to build a hydrogen ecosystem.
He explains that international cooperation is essential for a rapid transition to the global hydrogen economy and, through this, opportunities will be created for the growth of the global hydrogen industry and the expansion of the hydrogen market through mutual cooperation. .
GHIAA chairman Moon Jae-do (concurrently chairman of H2KOREA) said: “To overcome the global environmental crisis and the energy security crisis, the world must promote a rapid transition to the hydrogen economy. He stressed that the global cooperation on the full value of the hydrogen chain, including trade, is of paramount importance and GHIAA will continue to play a bridging role between national and international private cooperation, leading to the revitalization of the global hydrogen industry and the creation of synergies “.
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