Hydrogen economy will play an essential role in the transition to net zero. It is estimated that hydrogen can abatesome 80 gigatons of CO2 by mid-century and some 730 million metric ton of CO2by 2030, which is equivalent to the total volume of CO2 emitted by the UK,France, and Belgium combined annually. Cross-bordertrade in hydrogen and derivatives enabling cost-effective matching of supply from renewables-rich countries with demand pools can allowreducing the total system costs across the hydrogen supply chain by USD 6 trillion while accelerating the transition to net zero globally.[1] Creating hydrogen trade corridors between the developing countries and the developed countries will facilitate a just transition at global scale and help delivering the climate goal set in the Paris Agreement to limit global warming to well below 2, preferably to 1.5 degrees Celsius, compared to pre-industrial levels.

Crucially, the development of green hydrogen trade will create ripple effects in the prospective exporter countries allowing toscale up production of renewable hydrogen and derivatives and thereby helping accelerate decarbonisation of local industries and fostering just transition. Alogsidethe vital carbon abatementbenefits, hydrogen economy will provide meaningful contributions to the UN Sustainable Development Goals (SDGs) both in emerging market economies and in developedcountries, boosting sustainable growth and providing clean jobs. In order to deliver on these priorities, public-private cooperationand a common platform advancing green hydrogen deployment in emerging market economies is necessary.

The Global Renewable HydrogenForum (GRHF)constitutes a multi-stakeholder platform designed to facilitate large-scaledeployment of renewable hydrogen inemerging market economies to foster decarbonisation of local industries,accelerate just transition and unlock the environmental and socio-economicbenefits of the global hydrogen economy through hydrogen trade between the emerging market economies and the developed countries.

[1] GlobalHydrogen Flows, Hydrogen Council, 2022

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