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International coordination and policy instruments to promote a hydrogen economy: a focus on the steel-making industry

Publication Overview

Publication Date: 09-2021

This policy brief explores the importance of international cooperation in the development of a global hydrogen economy with a focus on the steel-making industry.

Green hydrogen is gaining significant momentum and will become a key component of decarbonization strategies, enabling low-carbon energy storage and transportation. However, barriers to the production of cost-competitive hydrogen still exist. To address them, policy responses for supporting green hydrogen applications should be coordinated at international level through a dedicated institution driven by the Group of Twenty (G20). This initiative will look at options for reducing the production costs, but also at joint cross-border investments, trading rules and technology transfer. “Lighthouse” pilot activities can be implemented through the international market mechanisms under the Paris Agreement on climate change. This policy brief evaluates pathways and suggests enabling policy mechanisms for decarbonizing the steel industry through the use of green hydrogen and for its deployment at scale.

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