Europe Should Shape the Green Hydrogen Market Now
Görlach, Benjamin; Michael Jakob 2022: Europe should shape the green hydrogen market now. Online: 4 November 2022. URL: https://www.euractiv.com/section/energy/opinion/europe-should-shape-the-green-hydrogen-market-now/
Strict regulation does not have to stifle the emerging market for green hydrogen — just the opposite, write Benjamin Görlach and Dr. Michael Jakob of Ecologic Institute. They argue that a unified system for monitoring, certifying and tracking green hydrogen production and trade is key to all this. The op-ed can be accessed at the EURACTIV website.
The war on Ukraine – a major exporter of natural gas – has wreaked havoc on European energy markets. Faced with imminent energy shortages, governments have ramped up coal use and expanded the import of liquified natural gas from other nations. The International Energy Agency estimates that coal use in Europe could increase by 7% in 2022, after a 14% jump in 2021.
This is a problem. Europe is sliding backwards on its climate goals just when it needs to be leaping forward. Green hydrogen can be a good news story: with it, climate ambition and energy security can be aligned and achieved at a reasonable cost. If done right, the new green hydrogen market will serve the interest of the many rather than the few.