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The UAE and the UK can join forces to become leaders in the burgeoning hydrogen energy sector through “extensive” collaboration involving policy, innovation, trade and investment, according to a joint report by the World Green Economy Organisation (WGEO) and the UAE-based Consulting firm Zest Associates.
Existing agreements between the two countries could focus on hydrogen to “match the scale of investment needed to achieve net zero”, the report said.
“We are seeing strong public and private sector action and willingness to cooperate in both countries, but more and faster steps must be taken to realize the full economic and environmental potential of green hydrogen,” said WGEO Chairman Mohammed Al Tayer.
last year, Abu Dhabi sovereign wealth fund Mubadala signs £10bn ($11.31bn) deal Agreement to expand UAE-UK sovereign investment partnership reached in Downing Street.
Over the next five years, the UAE-UK SIP plan drives a significant increase in investment in three areas: technology, infrastructure and energy transition.
September 2021, UK Department of Business, Energy and Industrial Strategy and UAE Department of Industry and Advanced Technology Sign a preliminary agreement Cooperation in a wide range of fields. These include developments in the life sciences, space, hydrogen and wider industrial sectors, including supply chain resilience, regulations and standards.
last month, Ministry of Education signs agreement with GHD Working with Germany-based Fraunhofer-Gesellschaft to develop its national hydrogen strategy.
It will help build the UAE’s hydrogen vision and inform its policy decisions as part of its strategy to diversify its energy portfolio and achieve net-zero emissions by 2050.
WGEO expects hydrogen to bring more than $8.7 billion (AED32 billion) to the UAE economy and $14.8 billion (£13.7 billion) to the UK each year by 2050, and if adoption is high, each country will generate more than $8.7 billion (AED32 billion) per year. 100,000 new jobs said.
Hydrogen is expected to account for 12% of global energy use and carbon emissions reductions by 2050 due to the urgency of climate change and countries’ commitment to net-zero emissions, the International Renewable Energy Agency said in a January report. 10% of the amount.
Updated: 10/24/2022 4:30pm
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