The 29th Climate Change Conference began on a promising note for hydrogen, which ranked 5th among the 14 declarations on the agenda. But what tangible outcomes did it deliver?
The hydrogen declaration aimed to “outline public and private sector actions to unlock the potential of a global market for clean hydrogen and its derivatives, define guiding principles and priorities, and address regulatory, technological, financial, and standardisation barriers.” Ahead of COP29, the Hydrogen Council, alongside some twenty partners including Hydrogen Europe, issued an appeal to galvanise action.
The conference featured several hydrogen-focused events. The most notable was the Hydrogen Transition Summit on 15 November, which hosted around 50 speakers, including Bertrand Piccard (Solar Impulse) and Jorgo Chatzimarkakis (Hydrogen Europe). UNIDO also organised multiple sessions on low-carbon hydrogen on 14, 15, and 16 November, including one titled “Achieving the Right Energy Transition Through Ambitious and Sustainable Hydrogen Projects.”
Hydrogen Overshadowed?
The main headline from COP29 revolved around financing for developing nations. Developed countries and the European Union—identified in 1992 as historically responsible for climate change—agreed to provide at least $300 billion annually by 2035. This commitment triples the previous agreement made at COP15, which allocated $100 billion annually between 2020 and 2025. However, it is half the amount requested by developing countries and falls short when adjusted for inflation, drawing criticism from NGOs. Moreover, the agreement makes no mention of phasing out fossil fuels.
On hydrogen, the COP29 Presidency’s final declaration highlighted commitments and initiatives on energy storage, networks, zones, corridors, and hydrogen—approved by 150 Parties. Azerbaijan, the host country, announced that, with support from the European Bank for Reconstruction and Development (EBRD), it began exploring low-carbon hydrogen production in February 2023. Agreements signed with global private sector players are expected to pave the way for approximately 10 GW of renewable energy projects to support hydrogen production in the medium term.
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