The Hydrogen Council and The One Planet Sovereign Wealth Funds (OPSWF) Network have joined forces to establish a Joint Forum dedicated to advancing decarbonization through clean hydrogen and its derivatives.
This collaborative initiative aims to foster dialogue between hydrogen industry leaders and leading investors worldwide, accelerating the development of a clean hydrogen economy and contributing to greenhouse gas emissions reduction in line with the Paris Agreement. By unlocking the potential of the hydrogen economy, the Joint Forum seeks to drive green industrialization, sustainable economic growth, and a just transition towards a more sustainable energy future.
With the OPSWF Network comprising 47 investors with over USD 37 trillion in assets under ownership and management, and the Hydrogen Council representing 150 industrial leaders with USD 8.2 trillion in market capitalization and significant revenues, this partnership brings together substantial financial resources and industry expertise to drive meaningful change.
The Joint Forum will focus on aligning sustainability standards and certification solutions for clean hydrogen and derivatives, which are crucial for facilitating global trade, accelerating project execution, and attracting various forms of financing. By establishing mutual recognition of certification schemes, the aim is to maximize the climate and socio-economic benefits of clean hydrogen on a global scale.
In addition, the Joint Forum will prioritize the uptake of common global industry standards that are technically feasible and scientifically robust. By developing these standards through Standard Development Organizations, the forum aims to inform environmental, social, and governance (ESG) reporting frameworks for investors, ensuring transparency and accountability within this emerging asset class.
A significant aspect of the Joint Forum’s objectives is to unlock the environmental and socio-economic benefits of the hydrogen economy in emerging and developing countries. This will involve advancing capacity building, knowledge sharing, and financing solutions to promote green industrialization in these regions, facilitating a just and equitable transition to net-zero emissions.
Over an 18-month timeframe, the Joint Forum will embark on a roadmap of action, focusing on three key priorities. These include supporting the mutual recognition of certification schemes, fostering the uptake of global industry standards, and unlocking the potential of the hydrogen economy in emerging and developing countries.
Sanjiv Lamba, CEO of Linde plc and Co-Chair of the Hydrogen Council, emphasizes the significance of consistent standards and an aligned vision between industry leaders and global investors for the successful scaling of the clean hydrogen value chain. He believes that the Hydrogen Council, in collaboration with the OPSWF Network, is well-positioned to provide the necessary leadership to accelerate the development of a clean hydrogen ecosystem, supporting industrial decarbonization and facilitating cross-border trade.
Yoshinori Kanehana, Chairman of Kawasaki Heavy Industries, Ltd., and Co-Chair of the Hydrogen Council stresses the importance of unlocking the socioeconomic value of clean hydrogen and derivatives. He believes that robust global sustainability standards and certification solutions, along with partnerships with global investors, are instrumental in accelerating the delivery of hydrogen projects to achieve net-zero goals.