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On Wednesday (Dec 16), Canada’s Minister of Natural Resources Mr. Seamus O’Regan has announced the launch of Hydrogen Strategy, an ambitious framework that aims to position Canada as a global hydrogen leader and consolidate this low-carbon and zero-emission fuel technology as a major part of the path to net zero carbon emissions by 2050.
As the Government of Canada remains committed to protecting and supporting Canadians throughout the COVID-19 pandemic, it is equally important for the country to consider the future.
The Strategy is supported by a federal investment of CA$ 1.5 billion in a low-carbon and zero-emission fuel fund to increase the production and use of low carbon fuels, including hydrogen. Low-carbon and zero-emission hydrogen could reduce the annual greenhouse gas emissions as much as 45 million metric tons per year by 2030 and could create as many as 350,000 new jobs in Canada by 2050.
The strategy aims to stimulate investment and establish partnerships to make Canada a global hydrogen supplier and to increase domestic production. As one of the top ten hydrogen producers in the world, Canada would benefit from the rising demand for hydrogen worldwide. Some people predict that by 2050, the market will reach nearly US$ 12 trillion.
The strategy will also be complementary to the Clean Fuel Standard, which will further stimulate investment and growth in Canada’s fuel industry by encouraging the development and adoption of clean fuels like hydrogen.
The Strategy will involve Canadian expertise to create a new source of hydrogen supplies. The use of hydrogen throughout the country will reduce emissions from the sectors such as resource extraction, transport, electricity production and manufacturing.
The Strategy is developed over three years through research and analysis, with opinions from 1,500 leading experts, with opinions from 1,500 leading experts, academia, workers, Indigenous organizations, stakeholders and other levels of government. It will also support the climate plan “A Healthy Environment and a Healthy Economy” recently announced by the Government of Canada. Under Canadian leadership, this initiative is designed to accelerate the global commercialization of hydrogen and fuel cell technologies in all sectors of the economy.
