The World Business Council for Sustainable Development (WBCSD) and The Sustainable Markets Initiative (SMI) have today announced that 28 organisations, including the likes of Johnson Matthey (JM), Shell, Siemens Energy, Anglo American and bp, have pledged to grow the hydrogen market. The initiative, named H2Zero, will accelerate the use and production of hydrogen as an essential part of the future net-zero energy system.
Pledges across three categories – demand, supply and financial or technical support – have been made by 28 companies representing different sectors from mining to energy, vehicle and equipment manufacturers, and financial services.
JM has pledged to invest c.£1bn in the research, development and deployment of clean hydrogen technologies by 2030. As a leader in hydrogen technology for decades, JM’s experience cuts across numerous parts of the hydrogen value chain, including market leading hydrogen production catalysts and processes, components for hydrogen fuel cells and new technologies for ultra-low carbon hydrogen production.
The Hydrogen Council estimates that in 2030, the decarbonisation potential for hydrogen could equate approximately 800 million tonnes per annum (mtpa) of carbon dioxide (CO2) emissions avoided. The pledges announced today equate to nearly one quarter of this total.
“Our hope is that these combined pledges spark investments in supply and inspire other users to transition to hydrogen,” commented Claire O’Neill, Senior Advisor at WBCSD and former COP26 President-Designate.
The pledge from JM further emphasises the company’s vision to create a cleaner, healthier world and demonstrates its commitment to developing a low carbon economy and progressing towards net-zero.