The World Business Council for Sustainable Development (WBCSD) and the Sustainable Markets Initiative (SMI) has announced at COP26 the pledges of 28 companies to drive growth in the demand for and supply of hydrogen.
The H2Zero initiative aims to accelerate the demand and supply of hydrogen as an essential part of the future net-zero energy system.
The companies have made pledges across three categories – demand, supply and financial or technical support.
On the demand side, the pledges focus on replacing grey hydrogen, currently used widely in the refining, chemical and fertiliser sectors, or diesel fuel used in heavy industries such as mining. This would reduce CO2 emissions by more than 14 million tonnes/year.
On the supply side, the pledges add up to more than 18 million tonnes/year f lower-carbon hydrogen, which would avoid about 190 million tonnes/year of CO2 emissions.
Ben van Beurden, EO of Shell and Chair of the Hydrogen Taskforce at SMI, said, “We brought companies together to tackle this status quo and send a strong signal to markets and governments for hydrogen to reach its full potential.”
Claire O’Neill, Senior Advisor at WBCSD, added, “To further accelerate the development of the hydrogen market, we are encouraging more companies to join this effort and make pledges.”
The list of 28 companies is:
Demand and supply-side companies
- Acciona Energia
- Anglo American
- 8 Rivers Capital
- Itm Power
- Riversimple Movement Ltd
- Yosemite Clean Energy
Support side companies
- Bank of America
- Johnson Matthey
- Siemens Energy