Carbon taxes are used in a number of countries around the world
Hydrogen needs strong carbon price
Global carbon trading schemes need higher prices to incentivise hydrogen projects, says panel
A strong carbon price is needed to incentivise a switch to hydrogen in many countries, according to a senior executive at a leading green hydrogen developer. Only the EU currently has a strong price for carbon, where it is trading at more than €80/t CO₂ ($90/t CO₂). The US and China have regional emissions trading schemes, but prices remain too low to incentivise hydrogen projects. “In some markets you are going to need carbon taxes because companies are not motivated only by decarbonisation and helping with climate change,” said Alicia Eastman, president of Hong Kong-based Intercontinental Energy, at the Asia-Pacific Hydrogen Summit on Wednesday. “You will need to see some kind of carbon ta
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
15 November 2024
Danish electrolyser firm stays focused on US expansion plans amid policy uncertainty in wake of Republican election victory
