The latest joint report from the International Renewable Energy Agency (IRENA) and the World Trade Organization (WTO) delves into trade strategies for promoting renewable hydrogen and its derivatives. Titled "Enabling global trade in renewable hydrogen and derivative commodities," this publication builds on a previous report by the same organizations, focusing on scaling up green hydrogen production.
The document provides policymakers with practical guidance to develop global markets through several means. These include standardization and certification, supportive government procurement policies, effective carbon pricing mechanisms, tariff rebalancing, and fostering cross-border collaboration.
According to the report, renewable hydrogen and its derivatives could account for approximately 14% of final energy consumption by 2050. This projection highlights sectors such as chemical manufacturing, fertilizer production, and heavy-duty transport as key areas of impact. The report also identifies essential infrastructure needs like pipelines and shipping facilities to support market development alongside sustainable supply chain strategies.
"Success in building renewable hydrogen markets," the report states, "will drive green industrial development and job creation while supporting an efficient transition to low-carbon energy."
The complete findings can be accessed in the full report online.