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ARTICLE · 04 APRIL 2022

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Power Perspectives 2022 - Hydrogen Overview

McCarthy Tétrault
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The potential for hydrogen to play an essential role in transitioning to a net zero economy continues to generate enthusiasm amongst key stakeholders, including governments, investors, and project proponents.

CanadaEnergy and Natural Resources
Canadian Energy Perspectives
Canadian Energy Perspectives
Jamie Gibb
Jamie Gibb
William Horne
William Horne
Christopher Langdon
Christopher Langdon
Kerri Lui
Kerri Lui
Dave Nikolejsin
Dave Nikolejsin
Connor O'Brien
Connor O'Brien
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Unlocking the Potential of Hydrogen: Canadian Developments in the Drive to Net Zero

GROWING AMBITIONS — GLOBALLY AND DOMESTICALLY

The potential for hydrogen to play an essential role in transitioning to a net zero economy continues to generate enthusiasm amongst key stakeholders, including governments, investors, and project proponents. 2021 saw steadily increasing investment commitments aimed at realizing that potential.

The International Energy Agency (IEA) reports  that, globally, countries that have adopted hydrogen strategies have committed at least USD$37 billion, while the private sector has announced an additional investment of USD$300 billion. Such commitments are driven not only by the policy imperative embodied in such multilateral summits as COP 26 in Glasgow, but also by the scale of the economic opportunity. Indeed, the IEA has identified  hydrogen as being amongst the "biggest innovation opportunities" in the push toward net zero.

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