fbpx

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
Share on facebook
Share on twitter
Share on linkedin

Related Posts

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 increasingly seeing value in measuring their impact.

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 Glasgow

Read More
The Maldives have max 80 years left: President says

The Maldives is renowned for being a great holiday destination, when the country’s name is mentioned, it inspires thoughts of …

Read More
Paying.Green® launches Carbon Easy™ – Grow your business and be on the right side of history.

Carbon Easy™ is a global initiative helping businesses up to 250 people be climate smart and access best practice and affordable climate action and carbon offsetting through a convenient online service.

Read More
Collapsing Arctic Ground releases World’s largest carbon sink

Covering about 25% of the Northern Hemisphere, the frozen vault is defrosting due to rising temperatures, unprecedented heatwaves and extensive wildfires in Siberia and other far-northern regions. This is in turn rapidly transforming the Arctic carbon sink into a source of greenhouse gases.

Read More
Carbon Emissions From G20 Countries Increased Sharply In 2021

The new Climate Transparency Report shows that carbon emissions across the world are rebounding strongly with the world’s 20 richest nations responsible for the 2021 rise.

Read More
Creating A Low Carbon Economy Is Cheaper Than Climate Change Costs

The European Central Bank released a new report which reaffirms the stark consequences of inaction or delays on climate change.

Read More
Climate Basics: CO2 Explained

Learn what CO2, or carbon dioxide, is and why it plays such big role is changing our atmosphere and climate.

Read More