GH2 Year in Review - May 2023

GH2 Year in Review - May 2023

It is a year since many of us met at the Green Hydrogen Global Assembly in Barcelona, Spain. In the  GH2 Year in Review May 2023 – Green hydrogen moves to centre stage we have captured how our industry and its financing has evolved. We identify what we have achieved together and what lies ahead of us.

A year ago, it was a commonly held view that blue hydrogen production was likely to reach significant scale ahead of green hydrogen because green hydrogen was decades away.

 The acceleration of the energy transition and the growth of the green hydrogen industry shows that we don’t need blue to get to green. For the green hydrogen economy to happen as fast and as responsibly as we need it to happen, we need
1) global standard(s)

2) the enabling environment; and

3) financing.

By developing the Green Hydrogen Standard, defining green hydrogen, with robust ESG requirements and developers required to set out how their projects will contribute to the Sustainable Development Goals, GH2 and its partners are making good progress towards a global standard. Through our work with governments, a growing group of development partners, the seven law firms which are part of Good Green Hydrogen Contracting, many companies and meaningful engagement with civil society, GH2 is making good progress on developing and using good international practices. Within the development finance roundtable and the collaboration with a growing number of development banks, the sharing of good examples and understanding of the need for various forms of blended finance solutions is rapidly growing.

To all of you who have contributed to the development of good practices and provided leadership, who have participated in our activities and, crucially, funded our activities, we are forever indebted.

It is only by working faster and focusing together that we will be able to deliver on time

Jonas and the GH2 Team, 26 May 2023