Fortum has signed a joint letter with a large range of European stakeholders (ranging from energy producers, electrolyser manufacturers to industrial customers) stating that the upcoming Delegated Act for the Sustainable Finance Taxonomy should not introduce disproportionate constraints to hydrogen production. The letter was sent to the top decision-makers in the European Commission who will soon have to decide on the revision of the EU Taxonomy delegated acts on climate change.
While hydrogen is meant to be the energy vector able to decarbonise hard-to-abate sectors to achieve a carbon neutral Europe and further integrate renewable energies, today 95% of the hydrogen is produced from fossil fuels. In this context, ambitious and swift industrial deployment trajectories are needed to increase the competitiveness of renewable and low carbon hydrogen, triggering economies of scale, cost reductions and increased EU leadership. This will in its turn allow industrial consumers and the transport sector to switch away from fossil fuels.
Hydrogen produced with low carbon electricity brings both high emission reduction and strong synergies with renewable hydrogen as technology and cost structures are similar.
Fortum together with the other signatories believe it is essential that the technical criterion related to hydrogen as laid down by the draft delegated act on climate change is brought in line with the European Commission’s Communication on hydrogen so as to support the EU leadership ambition whilst not unnecessarily limiting business options compatible with Paris-aligned business trajectories.
Read the joint letter:
For more information, please contact:
Anne Malorie Géron
VP, EU Affairs
Tel: +32 47 865 2801
anne-malorie [dot] geron [at] fortum [dot] com