The International Renewable Energy Agency (IRENA) and the World Economic Forum have launched a toolbox to accelerate the deployment of green hydrogen across the globe as a climate mitigation strategy.
The toolbox was developed through the World Economic Forum’s Accelerating Clean Hydrogen Initiative and IRENA’s Collaborative Framework on Green Hydrogen to:
- Identify barriers to green hydrogen deployment.
- Identify priority enabling measures requiring accelerated action.
- Convene dialogue and collaborative activity between policy makers, industry and other key stakeholders to accelerate priority enabling measures.
IRENA and the World Economic Forum will use the toolbox to inform governments on the development of green hydrogen deployment roadmaps and how to develop supporting policies.
The toolbox will also help increase funding being directed in the sector, according to a statement.
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The launch of the toolbox comes at a time calls for increased deployment of green hydrogen have intensified at global scale to decarbonise hard-to-abate sectors.
However, the lack of infrastructure and funding are key barriers to the increased use of energy resources. Other factors including the lack of carbon cost internalisation, upstream and downstream support, and an unfit market design are also hindering the global hydrogen market to reach its full potential, according to a statement.
IRENA’s Director-General Francesco La Camera said: “Green hydrogen needs to be transitioned from its current niche role to a global energy carrier with widespread usage across sectors and this will require an integrated policy approach. Our Enabling Measures Roadmaps will help countries lead the way for a global hydrogen market and meet global net-zero objectives.”
IRENA and the World Economic Forum will encourage collaboration between the public and private sectors for increased deployment.
Roberto Bocca, Head of Shaping the Future of Energy & Materials Platform at the World Economic Forum added: “These roadmaps articulate a clear pathway for making hydrogen a significant part of the future energy mix. Private sector and policymakers working hand in hand can now forge a credible path toward a green hydrogen economy.”
The toolbox will ensure cost reduction, increased technology development and deployment, the development of international standards ensuring increasing demand can be met.