Hydrogen FID must quicken to keep track with climate commitments
Total investment in hydrogen projects is forecasted to top $680bn this year, an eight-fold increase on 2020, according to the latest Hydrogen Insights report from the Hydrogen Council and McKinsey & Company.
The global project pipeline has risen from 228 four years ago to 1,572 today.
Clean hydrogen projects that reached FID have seen a seven-fold increase in committed investment, growing from approximately $10bn across 102 projects in 2020 to $75bn across 434 projects in 2024.
However while the pace of FID globally has accelerated in the last four years, it has not been sufficient to remain on track with climate commitments, the report states, adding that another eight-fold increase of investments in hydrogen is required until 2030.
“Addressing this challenge calls for a joint effort by decision-makers…
