Joint letter – ICC reform and expansion risks diverting ETS Revenues from real climate action
ICC reform and expansion risks diverting ETS Revenues from real climate action In light of the European Commission’s ongoing considerat...
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Publish date: November 5, 2024
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In a newly released open letter, Bellona joined other environmental groups and industry representatives in urging COP29 leaders and key UN officials to take essential steps to ensure hydrogen fulfills its potential as a climate solution. Led by the Environmental Defense Fund, this letter emphasises the need for stricter international standards for fossil-based hydrogen, addressing concerns that, without careful management, this technology could fall short of climate goals. The letter outlines three critical areas for immediate attention: accurate methane emissions reporting, reliable carbon capture and storage (CCS), and transparent facility accounting practices.
Methane emissions are a major contributor to fossil-based hydrogen’s lifecycle greenhouse gas impact, making region-specific, measured data vital for accurate accounting. Additionally, for hydrogen production to truly benefit the climate, carbon capture rates must be both high and verified, with data transparently reported. Finally, to prevent “accounting gamesmanship” that could artificially reduce emissions on paper, the letter calls for responsible and verifiable facility accounting practices. At COP29, our coalition hopes to see a commitment to transparency as the foundation of the global hydrogen economy, setting it on a clear path to deliver on its climate promise.
Read the joint letter below:
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