According to a report jointly released by the World Green Economic Organization and Zest Associates, a consulting company in the United Arab Emirates, the United Arab Emirates and the United Kingdom can become one of the leaders in the booming hydrogen energy industry through extensive cooperation involving policy, innovation, trade and investment.

According to the report, existing agreements between the two countries can focus on hydrogen to match the scale of investment required to achieve net zero emissions. We have seen strong action and willingness to cooperate between the public and private sectors of the two countries, but more and faster measures must be taken to fully realize the economic and environmental potential of green hydrogen, said Mohammed Al Tayer, Chairman of WGEO.

In 2021, Abu Dhabi sovereign wealth fund Mubadara signed a US $11.31 billion agreement in Downing Street to expand the sovereign investment partnership between the United Arab Emirates and the United Kingdom. In the next five years, the SIP plan of the United Arab Emirates and the United Kingdom will significantly increase investment in three areas: technology, infrastructure and energy transformation.

In September 2021, the Ministry of Commerce, Energy and Industrial Strategy of the United Kingdom and the Ministry of Industry and Advanced Technology of the United Arab Emirates signed a preliminary agreement to carry out cooperation in a wide range of areas. These include the development of life sciences, space, hydrogen energy and the wider industrial sector, including supply chain flexibility, regulations and standards. Last month, MoEI signed an agreement with GHD to work with the Fraunhofer Association, headquartered in Germany, to develop its national hydrogen strategy.

WGEO said that by 2050, hydrogen energy is estimated to bring more than 8.7 billion US dollars to the UAE economy and 14.8 billion US dollars to the UK. If the adoption rate is high, each country will have more than 100000 new jobs. The International Renewable Energy Agency said in a report in January that by 2050, due to the urgency of climate change and the net zero commitment of countries, hydrogen is expected to account for 12% of global energy use and 10% of carbon emissions.Editor/Xing Wentao