The Hydrogen Council and The One Planet Sovereign Wealth Funds (OPSWF) Network yesterday launched a Joint Forum aimed at advancing decarbonization with clean hydrogen and derivatives.
his initiative will foster a dialogue between industrial leaders in hydrogen and the world’s leading investors to accelerate the development of the clean hydrogen economy and contribute to greenhouse gas emissions reduction and climate change mitigation in line with the Paris Agreement.
The Joint Forum will set out an 18-month roadmap of action, focusing on three priorities:
- Supporting mutual recognition of certification schemes for clean hydrogen and derivatives to foster international trade in hydrogen and derivatives, maximizing both climate and socio-economic benefits of clean hydrogen at a global scale.
- Fostering uptake of common global industry standards which are technically feasible and scientifically robust.
- Unlocking environmental and socio-economic benefits of the hydrogen economy in emerging and developing countries.
The Joint Forum will also work on unlocking the potential of the hydrogen economy in emerging and developing markets to boost green industrialisation and sustainable economic growth.
The OPSWF Network brings together 47 investors with over USD 37 trillion in assets under ownership and management.
The Hydrogen Council, a global coalition of CEOs, brings together 150 industrial leaders representing some USD 8.2 trillion in market capitalisation, 6.8 million FTEs worldwide, and some USD 5.2 trillion in revenues.
This purpose-driven collaboration will focus on alignment on sustainability standards and certification solutions for clean hydrogen and derivatives, which are key to facilitate global, cross-border trade, as well as accelerate project execution and all forms of financing.
A key objective of the Joint Forum is to help unlock the development of this new industry in emerging and developing markets, supporting a just and equitable transition to net zero and green industrialisation.