DUBAI, 9th January 2022 (WAM) — A new research paper will explore potential green hydrogen collaborations between the United Arab Emirates (UAE) and the United Kingdom as part of a joint commitment by the World Green Economy (WGEO) organization. , the international platform driving coalitions to enable green economic growth, and Zest Associates.
The report, sponsored by HSBC, will attempt to uncover common opportunities to accelerate the development of the respective clean hydrogen markets in the UAE and UK. His research will involve business leaders, industry associations, policymakers, innovators and academics from both countries.
“As the UAE and UK seek to deepen trade ties and drive investment and innovation in low-carbon technologies, it is vital that we create spaces for dialogue and the exchange of ideas that lead to real practical action. This report will be consistent with WGEO’s goal of enabling and delivering bankable and sustainable green projects and programs by bringing together technology, capacity building and finance,” said WGEO Chair Said Mohamed Al Tayer.
The research paper will explore opportunities in the hydrogen green space between the two countries and develop proposals for collaborations and partnerships. It will map out innovation priorities, profile hydrogen companies and examine how political and regulatory cooperation between the UAE and the UK can facilitate trade, encourage foreign direct investment and secure credentials.
Research for the report will include stakeholder meetings and workshops to test and validate the findings. In the first half of 2022 there will also be a panel discussion on the results of the report.
Abdel Fattah Charaf, CEO and Global Head of HSBC UAE said: “HSBC is committed to leading the transition to net zero and this research will help improve understanding of how the economic and environmental benefits of hydrogen can be achieved in low-carbon travel can be integrated United Arab Emirates and the United Kingdom”.
Zest Associates, a Dubai-based sustainability consultancy with UK ties and expertise in green finance, policy and cleantech innovation, is leading research for the report.
“Our goal is to show how the UAE and UK can move from ambition to action,” said Jeffrey Beyer, Managing Director of Zest Associates. “We bring key stakeholders together – big and small – to identify opportunities for collaboration and show how working together brings benefits to all stakeholders. The report will outline practical steps the UAE and UK can take to create the conditions for a thriving clean hydrogen market, while bringing together companies and innovators to catalyze clean hydrogen business and technological developments.”
The report’s announcement builds on recent public statements aimed at strengthening economic ties between the UK and the UAE, with a focus on clean technology and low-carbon infrastructure, including expanding the partnership between the UAE and NewEnergy.
In September this year, at Downing Street, the UK Office for Investment (OfI) and Mubadala Investment Company of Abu Dhabi signed an agreement to significantly expand the UAE-UK Sovereign Investment Partnership (UAE-UK SIP), an investment framework which was announced in March 2021.
As part of the deal, the UAE committed to investing £10bn ($13bn) across three sectors: technology, infrastructure and energy transition, as well as building on the existing life sciences investment programme. ADNOC, BP and Masdar have announced they are expanding the UAE-UK New Energy partnership to include the development of clean hydrogen hubs in the UAE and UK in an initial order of at least 2 gigawatts (GW), comprising 1 GW in the UAE and 1 GW in the UK.
The report will also support the Dubai 2050 Clean Energy Strategy and the Dubai 2050 Net Zero Emissions Strategy to deploy 100% of electricity generation capacity from clean energy sources by 2050.
In May 2021, the Dubai Electricity and Water Authority (DEWA), in partnership with Expo 2020 Dubai and Siemens Energy, inaugurated the first solar-powered green hydrogen production facility in the Middle East and North Africa (MENA) region with the aim of demonstrating the production of green hydrogen from solar energy, storage and re-electrification.
Translated by: Mervat Mahmoud.