Thirteen leading energy, transport and industry companies have launched a global initiative to voice a united vision and long-term ambition for hydrogen to foster the energy transition.
In the first global initiative of its kind, the ‘Hydrogen Council’ is determined to position hydrogen among the key solutions of the energy transition. Hydrogen is a versatile energy carrier with favorable characteristics since it does not release any CO2 at the point of use as a clean fuel or energy source, and can play an important role in the transition to a clean, low-carbon, energy system. Hydrogen technologies and products have significantly progressed over past years and are now being introduced to the market. The Council will work with, and provide recommendations to, a number of key stakeholders such as policy makers, business and hydrogen players, international agencies and civil society to achieve these goals.
During the launch, members of the ‘Hydrogen Council’ confirmed their ambition to accelerate their significant investment in the development and commercialization of the hydrogen and fuel cell sectors. These investments currently amount to an estimated total value of €1.4 Bn/year. This acceleration will be possible if the key stakeholders increase their backing of hydrogen as part of the future energy mix with appropriate policies and supporting schemes.
Meeting in Davos for the first time on Tuesday, the ‘Hydrogen Council’ is currently made up of 13 CEOs and Chairpersons from various industries and energy companies committed to help achieve the ambitious goal of reaching the 2 degrees Celsius target as agreed in the 2015 Paris Agreement. The international companies currently involved are: Air Liquide, Alstom, Anglo American, BMW GROUP, Daimler, ENGIE, Honda, Hyundai, Kawasaki, Royal Dutch Shell, The Linde Group, Total and Toyota. The Council is led by two Co-Chairs from different geographies and sectors, currently represented by Air Liquide and Toyota.
A report entitled ‘How Hydrogen empowers the energy transition‘, commissioned by the Hydrogen Council, further details this future potential that hydrogen is ready to provide, and sets out the vision of the Council and the key actions it considers fundamental for policy makers to implement, to fully unlock and empower the contribution of hydrogen to the energy transition.
As global companies from major energy and industrial sectors, it is part of the corporate responsibility to provide solutions to manage the energy transition and move forward to a low-carbon, sustainable economy: joint action is required to tackle this formidable challenge. This is why we invite governments and key society stakeholders to also acknowledge the contribution of hydrogen to the energy transition and to work with us to create an effective implementation plan.
The members of the Hydrogen Council collectively represent total revenues of €1.07 trillion and 1.72 million employees around the world.