July 30, 2024
(press release)
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So how is it doing?Report: EU Sees Mixed Progress on Creating Green Hydrogen Market
7/30/2024 - The European Union took an early lead in moving to establish a regional green hydrogen economy, setting as a goal to produce and import 20 million metric tons by 2030.
The results so far are mixed, according to a report from the European Court of Auditors (ECA). According to the EU’s external auditor, although the European Commission has taken a number of positive steps, the EU is unlikely to meet its 2030 targets for the production and import of renewable hydrogen.
“The EU’s industrial policy on renewable hydrogen needs a reality check,” said Stef Blok, the ECA member in charge of the audit. “The EU should decide on the strategic way forward toward decarbonization without impairing the competitive situation of key EU industries or creating new strategic dependencies.”
Still, the ECA said, the commission deserves credit for acting quickly.
It proposed most legislation within a short period of time, the ECA said, and the legal framework is almost complete. That, it said, has provided certainty that is key to establishing a new market.
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