Fortescue Future Industries (FFI) welcomes the new European Commission REPowerEU plan to rapidly reduce dependence on Russian fossil fuels and tackle climate crises.
FFI has worked hard directly with the EU and bilaterally with EU nations to promote market-based incentives such as carbon contracts for difference schemes and strongly supports the additional support announced today.
The RePowerEU plan comes at a pivotal moment for Europe’s dual-energy crises. The EU needs to end its dependence on Russian fossil fuels. We also need to take lasting action to save our planet. Green energy, including green hydrogen, is the world’s practical and implementable solution.
FFI also welcomes the European Commission plans on contract for difference, policy and financial support for green hydrogen, infrastructure for green hydrogen production, and imports pertaining to green hydrogen. A goal has been set of 10 million tonnes of domestic renewable hydrogen production and 10 million tonnes of imports by 2030 to replace natural gas, coal, and oil in hard-to-decarbonise industries and transport sectors.
Speaking from the Green Hydrogen Organisation’s Global Assembly in Barcelona, FFI Founder and Chairman Dr Andrew Forrest said green hydrogen, green ammonia and green energy are the only sustainable solution to the energy crisis. Any type of hydrogen made from fossil fuels is part of the problem, not the solution.
“New research released today proves the fossil fuel industry has highly effective disinformation campaigns to promote fossil fuel hydrogen as clean when it is in fact highly polluting and therefore dangerous to humanity. It is not even low carbon. It is worse than burning fossil fuels in the first place, as scientists have found. Today’s research has found that four out of five people do not realise that “clean hydrogen” is in fact not clean at all. The fossil fuel industry must stop greenwashing.”