Egypt President Abdel Fattah Al-Sisi and Prime Minister of Belgium Alexandre de Crowe launched on Wednesday the Global Renewable Hydrogen Forum during a high-level roundtable on “Investing in The Future of Energy – Green Hydrogen” within COP27 on Wednesday.
According to a joint statement, heads of state and government and representatives of various international institutions and bodies and the private sector participating in the roundtable welcomed the launch of the initiative. Attendees commended all efforts to develop the entire system of green hydrogen around the world.
The Global Renewable Hydrogen Forum is a multi-stakeholder platform to facilitate the production and use of renewable hydrogen, thereby contributing to the reduction of carbon emissions and accelerating the equitable transition to renewable energy,
Moreover, the platform is working to take advantage of the environmental, social, and economic benefits that the global economy provides to green hydrogen, and to identify the best tools that contribute to promoting transboundary green hydrogen trade between renewable-energy-rich developing countries and developed countries.
The initiative aims to build on and coordinate existing green hydrogen initiatives to create a global renewable hydrogen forum, bringing together all stakeholders from developed and developing countries, producers and consumers, specialized international organizations and bodies, leading global renewable hydrogen industries, and international investors.
It also aims to facilitate the development of hydrogen trade corridors, ensure a balance between supply and expected demand, explore potential markets and ensure that global renewable energy needs are met, including by working to remove regulatory barriers, identify incentive mechanisms for expanding renewable hydrogen production and use, and reduce costs contributing to the reduction of carbon emissions.
The Forum also aims to promote an equitable transition to renewable energy by promoting investments in renewable hydrogen projects in developing countries to achieve the UN sustainable development goals, promote sustainable growth, ensure universal access to renewable energy, provide clean jobs and achieve material, environmental, social and economic benefits.
The main partners of the initiative are the International Renewable Energy Agency (IRENA), UNIDO, the Hydrogen Council, and the Green Climate Fund.