Reading Time: 2 minutes
Egypt and Belgium, as Co-sponsors, announced the launch of the “Global Renewable Hydrogen Forum” during the High-Level Roundtable on “Investing in the future of Energy “Green Hydrogen” that took place as part of the World Leaders Segment at COP27.
“The President of the Arab Republic of Egypt, Mr. Abdel Fattah El Sisi, and the Prime Minister of Belgium, Mr. Alexander De Croo, announced the launch of the “Global Renewable Hydrogen Forum” during the High-Level Roundtable on “Investing in the future of Energy: Green Hydrogen” in the margins of the Sharm El Sheikh Climate Implementation Summit at COP27.
Heads of State, principals representing different intergovernmental institutions, and the private sector participating in the roundtable welcomed the launch of the initiative and commended all efforts to advance the development of the green hydrogen value chain across the globe.
The Global Renewable Hydrogen Forum constitutes a multi-stakeholder platform, bringing together public authorities, the private sector, port authorities, and intergovernmental organizations, designed to facilitate large-scale deployment of renewable hydrogen to foster decarbonization of local industries, accelerate just transition and unlock the environmental and socio-economic benefits of the global hydrogen economy, and to identify the best instruments enabling the cross-border trade of renewable hydrogen.
The initiative builds on and harmonizes the existing green hydrogen initiatives in order to:
- Create a global forum for renewable hydrogen that brings together both developed and developing countries, producers and consumers, relevant intergovernmental organizations, port authorities, as well as global industry leaders and international investors in renewable hydrogen.
- Facilitate the development of hydrogen trade corridors, and ensure an incremental balance between supply and demand, to further unlock potential markets and ensure meeting global needs for renewable energy. This includes the identification and removal of regulatory barriers, such as working on the uniformization of certification systems.
- Identify the most appropriate and cost-effective incentivizing mechanisms to maximize the carbon abatement potential of renewable hydrogen.
- Foster a just transition by way of ensuring investments in renewable hydrogen projects in developing countries contribute to the UN Sustainable Development Goals (SDGs), boosting sustainable growth, guaranteeing access to renewable and affordable energy for all, providing clean jobs, and delivering material, environmental and socio-economic benefits.