Accelerating global trade in hydrogen and unlocking its socio-economic benefits: International Hydrogen Trade Forum and Hydrogen Council sign partnership agreement at COP28

DUBAI, UAE, December 5, 2023 – The International Hydrogen Trade Forum (IHTF) and the Hydrogen Council have officially signed a partnership agreement today at the 28^th Conference of the Parties (COP28).

The IHTF, launched at the Clean Energy Ministerial (CEM14)/G20 in Goa on June 22, 2023, represents a unique platform for high-level dialogue between potential exporters and importers of hydrogen and its derivatives, coordinated by the UNIDO. Current participating governments in the IHTF are Australia, Brazil, Canada, Chile, Germany, Japan, Saudi Arabia, South Korea, The Netherlands, United Arab Emirates, United Kingdom, United States, Uruguay and the European Commission on behalf of the European Union.

The Hydrogen Council is a global CEO-led initiative comprising nearly 150 industry leaders in hydrogen committed to unlocking hydrogen deployment to accelerate the transition to net-zero in line with the Paris Agreement.

Reinforcing the ongoing strong collaboration between the IHTF and the Hydrogen Council, the agreement is a significant step bringing together the public and the private sector to advance the development of the international hydrogen value chains. The main objective of this initiative is to keep our climate goals within reach and deliver socio-economic benefits to prospective exporting and importing countries. This Partnership Agreement focuses on practical activities to foster the implementation of the Public Private Action Statement (PPAS) that has been launched at the COP28 High-Level Roundtable on Hydrogen.

Key highlights of the Partnership Agreement

1. Implementation Oversight of COP28 Public-Private Action Statement (PPAS): The Hydrogen Council and IHTF will actively monitor the implementation of the COP28 Public-Private Action Statement on cross-border trade in hydrogen and derivatives. This involves periodic reviews of priorities for collective action between the public and private sector, ensuring a strategic and coordinated approach.
2. Collaboration on Cross-Border Trade Corridors: The partnership will focus on cooperative efforts to analyse emerging cross-border trade corridors in hydrogen and its derivatives. IHTF and the Hydrogen Council will engage in knowledge sharing and the development of best practices, aligning with the priority actions identified in the COP28 PPAS, and identifying opportunities to unlock socio-economic value of global trade for emerging markets and developing countries.
3. Annual Ministerial-CEO Roundtable: The agreement establishes a continued dialogue and platform for an annual Ministerial-CEO roundtable. This roundtable aims to enhance better alignment of actions on both the public and private sides. The focus is on accelerating the development of cross-border value chains while maximizing the socio-economic benefits of hydrogen on an international scale.

H.E. Suhail Al Mazrouei, Minister of Energy and Infrastructure, United Arab Emirates, and Co-Chair of the IHTF, said: “Public-private cooperation is essential to advance implementation of cross-border trade corridors in hydrogen and its derivatives internationally. As IHTF Co-Chair, I am pleased to welcome this strong partnership between the IHTF and the Hydrogen Council set to accelerate cooperation on the priority actions required for establishing global supply chains.”

Vice-Minister for Climate and Energy Policy of The Netherlands, Michel Heijdra,and Co-Chair of the IHTF, said: “In a very short time we have to create a new international market on hydrogen to be able to decarbonise the hard-to-abate sectors, such as the industry and transport sector. There is no time to waste. All actors have the responsibility to contribute to the acceleration of the development of this new market. Our responsibility is to create a transparent and fair market with economic and social benefits for all, both exporting and importing countries. As IHTF Co-Chair, I am delighted to establish this partnership with the Hydrogen Council’s industrial leaders and join efforts to achieve our common goal.”

The Hydrogen Council Co-Chairs Yoshinori Kanehana, Chairman of the Board, Kawasaki Heavy Industries Ltd., and Sanjiv Lamba, CEO, Linde, said: “As a global coalition of leaders, the Hydrogen Council is pleased to partner with the International Hydrogen Trade Forum. Working together to implement the COP28 Public-Private Action Statement, we can unlock trade corridors between exporting and importing countries. Progress here will help to accelerate the development of a global hydrogen market, which is key for a just and equitable clean energy transition.”

Jean-François Gagné, Head of the Clean Energy Ministerial (CEM) Secretariat, said: “The role of industry in bringing the right knowhow and technologies remains critical to delivering on the clean hydrogen deployment goals. Since it’s formation, the industry led Hydrogen Council has been actively involved to support the work of the CEM’s Hydrogen Initiative, and we welcome today’s partnership agreement between the CEM’s International Hydrogen Trade Forum and the Hydrogen Council to further strengthen that engagement.”