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SEOUL, South Korea/Karuizawa, Japan – Hyundai Motor Group’s executive vice-chairman Euisun Chung has called for ”immediate action” to ensure a ”sustainable Earth” in an address to G20 energy ministers in Karuizawa, Japan.
He was, as the hydrogen council co-chair, addressing global policymakers at a G20 ministerial meeting on energy transitions and the global environment: his emphasis was on sustainable growth and stressed that words and study results are not sufficient to force progress in a transition to clean energy.
He also believed a hydrogen-powered society was “the most viable solution” to such a transition and believed that, by 2050, hydrogen could account for almost 20% of total energy consumed and urged leaders from all sectors to join the Hydrogen Council.
‘SAVING GIGATONS OF OF CARBON DIOXIDE’
He made clear that hydrogen would help governments to deliver significant benefits for their citizens, energy security, environment, and economy and cited a Hydrogen Council report tagged ‘Hydrogen, Scaling up’.
When deployed at scale, he said, hydrogen would reduce annual carbon dioxide emissions by roughly six gigatons versus today’s levels and contribute about 20% of the abatement required to limit global warming to two degrees Celsius.
Economically, hydrogen could also create a USD 2.5-trillion market and employ more than 30-million people.
Hydrogen Council members Takeshi Uchiyamada (Toyota chairman) and Benoît Potier (CEO and chairman of Air Liquide) also spoke. Uchiyamada highlighted how the Hydrogen Council was working on more than 20 multi-billion-dollar projects to bring hydrogen to the mass market. Potier called on G20 governments to unite to embed hydrogen in their energy transition strategies, policies and regulations.
…AND WHERE IT ALL STARTED
The Hydrogen Council, launched at a Davos World Economic Forum in 2017, is described as a first-of-its-kind global CEO initiative to foster hydrogen in the global energy transition. The coalition of 60 members from across industry sectors and key markets collectively represent total revenues of more than GBP 2.6-trillion and close to 4.2-million jobs around the world.
To date, the council has published three studies exploring the role of hydrogen in the energy transition detailing its long-term potential.