As global leaders gathered at COP 23 in Bonn, 18 key leaders in their industry verticals, united in the Hydrogen Council coalition, came together to launch first ever globally quantified vision of the role of hydrogen, developed with support from McKinsey. In addition to being a key pillar in of the energy transition, the study shows that hydrogen has the potential to develop US $2.5tn of business, creating more than 30 million jobs by 2050.
On 18 September, the Hydrogen Council hosted its inaugural Investor Day – Hydrogen: ready to scale.
As an affiliate event of New York Climate Week, the ground breaking event was complimented by the announcement of 3 new North American members joining the Council; with more than 160 investors, industry experts and policy stakeholders in attendance.
It is with great pleasure that the Hydrogen Council today welcomes on board four new steering members Audi, Iwatani, Plastic Omnium and Statoil, along with new supporting members Mitsui & Co, Plug Power, Faber Industries, Faurecia, First Element Fuel (True Zero), Gore and Toyota Tsusho. This rapid growth clearly demonstrates the recognition of the Council as having a leading role to play in helping shape the energy mix of the future.
We formed the Hydrogen Council to both underpin and leverage the enabling role of hydrogen. This global initiative of players from various industry and energy sectors with global reach is committed to providing guidance to accelerate and expand the deployment of hydrogen and fuel cell solutions around world.
The Hydrogen Council is a global initiative of leading energy, transport and industry companies with a united vision and long-term ambition for hydrogen to foster the energy transition.
Launched at the World Economic Forum 2017, in Davos, the growing coalition of CEOs have the ambition to:
In the first global initiative of its kind, the Hydrogen Council is determined to position hydrogen among the key solutions of the energy transition. The Council works with, and provides recommendations to, a number of key stakeholders such as policy makers, investors, international agencies and civil society to achieve these goals.
Hydrogen is a versatile energy carrier with favourable 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.
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.