fbpx ...

Powering Net Zero Commitments

How Green Hydrogen offers a Chance to Fix Our Climate & Our Economy

reducing co2 emissions

Green hydrogen provides Australia a chance to slash its emissions and if gotten right, the outcome of this could be nothing short of nation-building. This was the argument of business leader Andrew Forrest in the first of his ABC Boyer Lectures Pod castConfessions of a carbon emitter“.

While the Boyer lectures are traditionally lectures, with a speaker lecturing Australia about what it should do. Mr Forrest chose a different path.

Rather than lecturing, he decided to speak on what he is doing to fight climate change, under the premise that actions speak louder than words.

However, he did have a confession he had to first make. The iron ore company which he created 18 years ago, Fortescue, generates a little over 2 million tonnes of greenhouse gas every year. 2 million tonnes rank more than the entire emission of Bhutan. It also accounts for 0.004 percent of the greenhouse gases that enter the atmosphere every year — around 50 billion tonnes. The answer to reducing emissions isn’t to stop mining iron ore, which is integral to the creation of steel and of course to humanity, the answer is green iron ore and steel, created using green, zero-emissions energy.

If we were to imagine the world’s renewable energy resource as a power station, then the plant would be equivalent to millions of gigawatts in size. Placed into perspective, Australia produces every bit of its required electricity from just 70 gigawatts.

There’s sufficient and pollution-free renewable energy in the world to power humanity for the entire Anthropocene, which is the age of humans.

However, the markers of this era won’t be asteroid craters or Tyrannosaurus teeth. They will instead be massive landfills filled with single swig, plastic water bottles, which were effectively fossils the moment they were created.

It is unclear how long the Anthropocene will last, however, if we as humans do not stop warming our planet, it is sure to be the shortest era in geological history.

Hydrogen does offer us a massive opportunity.

Hydrogen is the most prevalent element in existence. In fact, the universe is 75% hydrogen by mass, meaning we will never run out of it.

It is also the simplest to make. All that has to be done is to run electricity through water. This is green hydrogen, the purest source of energy found in the world and one that could be substituted for up to ¾ of our emissions if the technology can be improved and scaled up.

At this moment, however, hydrogen is not used for energy. It is simply an ingredient to be used in the industrial process. Green hydrogen which is the good stuff is virtually ignored by the economic world.

Australia and many countries in the world is missing a colossal opportunity. However, the complicated aspect is transporting it. the green hydrogen market has the potential to generate revenues of at least $12 trillion by 2050, larger than any industry that is currently in existence. And Australia, with characteristic luck, actually sits on everything it requires to be a world leader, however, only if it can act fast.

The move to replace fossil fuels using green energy has moved at a snail’s pace for decades, however, it has been steadily moving.

In just the last year, South Korea, Japan and China have together pledged to place about 8 million hydrogen fuel cell vehicles on the road. Even Australia, which declined to commit to a zero emissions target, is investing $300 million in hydrogen. Europe has allocated a trillion Euros to reach zero emissions by 2050 — while the US has pledged $US2 trillion.

As reported by ABC News 

Share this article on your social networks

Related Posts

Greenhouse Gas Emissions by Country: Understanding the Global Impact
Greenhouse gas emissions by country: Understanding the global impact. In this article, we will take a closer look at the top greenhouse gas emitting countries, ...
Read More
GHG Reporting: Understanding and Mitigating Greenhouse Gas Emissions
Greenhouse gas (GHG) reporting is the process of measuring, reporting, and ultimately reducing an organization's emissions. In this article, we will explore the basics of ...
Read More
5 key takeouts from the new IPCC Climate Report
The most recent 3.675 pages IPCC report has been hailed as the most searing indictment of the planet’s climate predicament. Here are 5 key takeouts.
Read More
Overwhelming majority of Australians look to Brands to make a climate difference
The research, released today at Nine’s State of the Nation Sustainability virtual event, showed that despite everyday Australians making changes to live more sustainably, the ...
Read More
67% of retail investors now prefer ESG investments
According to new research from behavioural finance experts, Oxford Risk, two out of three retail investors are considering transferring their investments into ESG propositions.
Read More
Massive and rapid swing. 75% of Australian businesses leaders believe world is at climate change tipping point: Deloitte Report
Australian business leaders are becoming a lot more concerned about climate change. This shift is according to a new report and it shows a significant ...
Read More
Climate Impact Measurement and Disclosure Growing Quickly Among Businesses
Many of the world’s biggest organisations have begun to share information concerning their carbon footprint in a new move that embraces transparency as organisations are ...
Read More
Explosive research for Australian businesses: people are turning down high paying jobs for 1 surprising reason
employed by a company that did not do its part to address climate change.
Read More
Australia Ranks Last Out Of 60 Nations For Climate Crisis Response Policy
Australia’s government policy response to the climate crisis was ranked last in an assessment of 60 nations released at the current global climate summit in ...
Read More
Days
Hours
Minutes
Seconds

UNLOCK your 25% Early Bird enrolment discount

Action takers are winners! Get 25% off the enrolment fee for a limited time.

Let us redirect you to our 2024 Program Outline and email your time-sensitive discount code.