Boosting global cooperation to drive the green hydrogen revolution
The Australia-EU Green Hydrogen Dialogue, a project funded under the European Union's Climate Dialogues (EUCD) initiative, brought together key stakeholders from Australia and the European Union to explore the critical aspects of green hydrogen production, investment, and trade, with a shared goal of accelerating the energy transition.
Climate-Kic Australia have released the full Outcomes Report and Summary Report from the Australia-EU Green Hydrogen Dialogue. The report captures the insights, challenges, and actionable recommendations from a series of high-level discussions held by Australian and European Union members between March and June 2024.
Providing a roadmap for building a robust and sustainable hydrogen economy, the report finds the continuous exchange of knowledge and experiences between the EU and Australia will be crucial in overcoming the challenges and leveraging the opportunities in the green hydrogen sector.
Other findings include:
- The EU's off-take agreements can unlock Australia's green hydrogen economy, if the two work together to overcome infrastructure challenges and scale up production.
- Increased investment in research and development is essential, particularly in scaling electrolyser production and deployment.
- Financing is a critical barrier to advancing green hydrogen projects, especially in moving from the feasibility study phase to final investment decisions.
- Increased government support through market-making schemes and the development of interoperable sustainable finance taxonomies between the EU and Australia would expedite sector progress.
- Building community trust through early engagement and transparent communication is essential to sector success
- Clear standards and certifications are needed to ensure community buy-in and environmental sustainability.
The Australian Federal Government, State and Local Governments, industry and business, and the research community have all been provided with recommendations for action to overcome the identified challenges and accelerate the deployment of green hydrogen.
