THE INTERNATIONAL ENERGY AGENCY’S HYDROGEN PRESCRIPTION In its 2020 report “The Future of Hydrogen”, the International Energy Agency identified four near-term opportunities to boost hydrogen on the path towards its clean, widespread use. “Focusing on these real-world springboards could help hydrogen achieve the necessary scale to bring down costs and reduce risks for governments and the private sector,” the report declares. “While each opportunity has a distinct purpose, all four also mutually reinforce one another.” “Hydrogen will become a new commodity, 1. Make industrial ports the nerve but we need regulation now.” centres for scaling up the use of clean hydrogen. 2. Build on existing infrastructure, such as millions of kilometres of natural gas pipelines. climate issue, and all the energy giants – The International Energy Agency was also 3. Expand hydrogen in transport BP, Shell, TotalEnergies – realize it is time convinced, and they convinced the world. through fleets, freight and to switch to something cleaner, and they The IEA’s 2020 report – “The Future of corridors. have all put resources into hydrogen. But Hydrogen” – said hydrogen is critical to 4. Launch the hydrogen trade’s first challenges remain. Chiefly, governments solving the climate issue, and we should international shipping routes. are still in deadlock over the climate start by decarbonizing industry, rather than problem, with no coherence of approach. focusing on private transport. They reported In addition, the IEA made seven that the 40 industries they explored are key recommendations to scale up Where do we start? ready to go, if governments are ready. hydrogen: The pressure on hydrogen to be part of The conference organized by Ardian the clean solution is increasing, just as the in 2021 showed that the IEA report 1. Establish a role for hydrogen in technology has made gigantic progress. had started something for hydrogen. It long-term energy strategies. The role of investors is critical, particularly helped the consensus that hydrogen will 2. Stimulate commercial demand for finance companies like Ardian, which become a new commodity, but we need clean hydrogen. are ready to invest very large sums based regulation now. If we are able to connect 3. Address investment risks of first- on double-digit returns and long-time investment with government and industry, movers. horizons. the hydrogen plan will become coherent. 4. Support R&D to bring down costs. We will then be able to launch a new, 5. Eliminate unnecessary regulatory I’ve been involved in the International sustainable, clean world. barriers and harmonize Partnership for Hydrogen and Fuel Cells standards. in the Economy (IPHE) for many years. The The recent creation of the joint venture 6. Engage internationally and track IPHE facilitates a worldwide conversation Hy24 by Ardian and FiveT is an important progress. about hydrogen. The IPHE concluded early step in this direction. The success of 7. Focus on four key opportunities to that hydrogen is key to both the immediate this new “Clean hydrogen infrastructure further increase momentum over challenge and opportunity to decarbonize investment platform” paves the road to the the next decade. industry and heavy transport. scale up of the “Hydrogen Economy.” 31