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G20 declaration stresses on transparent global market for low-carbon hydrogen

New Delhi: The G20 New Delhi Leaders’ Declaration emphasized the importance of speeding up the transition towards clean, sustainable, and equitable energy, utilizing different methods. They also expressed their backing for the establishment of open and honest international markets for hydrogen generated from zero or low-carbon technologies.

The member countries committed their support towards the acceleration of production, utilization, as well as the development of transparent and resilient global markets for hydrogen produced from zero and low-emission technologies and its derivatives such as ammonia, by developing voluntary and mutually agreed harmonizing standards as well as mutually recognized and inter-operable certification schemes, the document said.

The focus on a “transparent” global market gains significance as major economies such as the US have announced hefty incentives for green hydrogen manufacturing which has raised concerns over a lack of level playing field for other economies.

“To realise this, we affirm the ‘G20 High Level Voluntary Principles on Hydrogen’, to build a sustainable and equitable global hydrogen ecosystem that benefits all nations,” said the declaration.

It also took note of the India’s initiative to establish the Green Hydrogen Innovation Centre steered by the International Solar Alliance (ISA).

India has been making efforts to boost the domestic green hydrogen economy and also is looking at becoming an export hub for green hydrogen. Earlier this year, the government launched the National Green Hydrogen Mission including incentive schemes for production of green hydrogen and elecrtolyzers. India has also come up with its standard for green hydrogen.

Industry stakeholders have applauded the declaration and the emphasis on energy transition. Taking to X (formerly Twitter) Sumant Sinha, Founder, Chairman & CEO of ReNew said: “Under the leadership of Prime Minister @narendramodi, India takes forward the global decarbonisation agenda. The G20 Delhi Leaders Declaration is a firm commitment to sustainable and inclusive growth, advancement of renewable energy, and reforming financial institutions—including multilateral development banks—toward funding the energy transition.”

In a statement, Vineet Mittal, founder of Avaada described the G20 Delhi declaration as a beacon of hope for a brighter, greener, and more inclusive future.

Arunabha Ghosh, CEO, Council on Energy, Environment, and Water (CEEW) said that the focus on resource efficiency and the importance of sustainable consumption by the G20 members is critical. “This is highlighted through the mainstreaming of lifestyles for sustainable development, including the High-level Principles on Lifestyles for Sustainable Development,” Ghosh said.

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Updated: 09 Sep 2023, 08:41 PM IST

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