The COP29 Presidency has unveiled a series of high-impact energy initiatives aimed at accelerating the global energy transition, with hydrogen taking centre stage as a critical enabler for decarbonisation.
Hosted during a High-Level Roundtable on Green Energy, Hydrogen and Global Energy Storage and Grids, the announcements reflect the Presidency’s ambition to deliver on the outcomes of the first Global Stocktake on renewable energy and hydrogen.
Key among these initiatives is the COP29 Hydrogen Declaration, a commitment to scaling up renewable, clean and low-carbon hydrogen production while decarbonising existing hydrogen derived from unabated fossil fuels.
The Declaration aims to expand green hydrogen production, currently at one million tonnes annually, while reducing the 96 million tonnes of hydrogen produced from fossil fuels.
Jorgo Chatzimarkakis, CEO of Hydrogen Europe, described the Declaration as “a historical step that recognises the increasing importance of hydrogen in global climate discussions. It highlights the urgent need for additional measures to affordably transport and store renewable energy after the previous COP’s pledge to triple renewables.”
He added, “With the COP29 Declaration, Hydrogen Europe shares its commitment to working together with its 600 members and its partner organisations globally and in Europe to scale up renewable and low-carbon hydrogen production and deployment.”
The COP29 Hydrogen Declaration is complemented by two additional initiatives:
- The Global Energy Storage and Grids Pledge, which sets an ambitious target to deploy 1,500 GW of energy storage globally by 2030 – six times the capacity of 2022 – and refurbish or add 25 million kilometres of grids. The long-term goal is an additional 65 million kilometres of grid infrastructure by 2040.
- The Green Energy Pledge, which seeks to establish Green Energy Zones and Corridors to connect abundant renewable energy sources with underserved communities, supported by expanded intraregional and interregional power grids.
Speaking about the broader energy initiatives, International Energy Agency (IEA) Executive Director Fatih Birol said, “With the world moving at speed into the Age of Electricity, the IEA’s analysis has made very clear that in order to meet energy and climate goals – including tripling global renewable power capacity this decade while strengthening energy security – countries need to rapidly increase energy storage and also expand and upgrade their electricity grids.”
“The COP29 Global Energy Storage and Grids Pledge, which is informed by the IEA’s work, marks an important step forward. We urge governments around the world to make energy storage and resilient grids key priorities as they strive to build more secure, affordable and sustainable energy systems.”
Francesco La Camera, Director-General of the International Renewable Energy Agency (IRENA), highlighted the importance of these initiatives, adding, “The COP29 Energy Initiatives are vital to keep the window towards 1.5°C open. At COP28, world leaders committed to the global goal of tripling renewable capacity by 2030. Achieving this goal requires not only scaling up generation, but also overcoming the challenges associated with integrating renewables into the grids.”
“Storage solutions, grid expansion and significant investment are critical enablers. As the custodian agency for tracking progress towards tripling renewables, we at IRENA are convinced that countries’ endorsement and implementation of today’s initiatives will become the key for advancing energy transitions aligned with the Paris Agreement’s objectives.”
The COP29 Hydrogen Declaration also gained the endorsement of Hydrogen Europe and the Global Hydrogen Industry, spearheaded by the Hydrogen Council. Ivana Jemelkova, CEO of the Hydrogen Council, praised the Declaration’s ambition, stating, “On behalf of the Hydrogen Council, we applaud the COP29 Presidency for recognising the important role of hydrogen in the energy transition and putting forward the COP29 Hydrogen Declaration, which calls for bold action on demand and inclusion of hydrogen in the 2025 submission of Nationally Determined Contributions.”
“Hydrogen has grown seven-fold in just the last four years, now reaching $75 billion in committed capital with 400+ large-scale projects around the world past FID. To deliver our shared climate goals, however, we need to do more, faster. Today’s Hydrogen Declaration is a key step in that direction, and we are grateful to 20 international industry partners including Hydrogen Europe for coming together to support it.”
