UAE and Germany explore hydrogen strategies and carbon markets: The UAE’s Ministry of Energy and Infrastructure and Germany’s Federal Ministry for Economic Affairs and Climate Action recently held an industry workshop focused on hydrogen strategies and carbon markets, Wam reports. The workshop, held in collaboration with the AHK Sustainability Guidehouse, facilitated knowledge exchange and explored possible synergies in hydrogen and carbon trading. Experts from both sides presented their national hydrogen strategies and discussed the UAE carbon trading outlook and voluntary carbon markets. The workshop also featured an interactive panel discussion on the design of the UAE carbon market.

REMEMBER– The UAE’s new energy strategy supports green hydrogen: The UAE government approved its updated National Energy Strategy last July, committing to increasing the country’s 2030 renewable capacity goal to 14 GW from 9.2 GW. The new goal represents triple the currently installed renewable energy capacity and will require AED 150-200 bn (around USD 41-55 bn) in funding. As of October 2022,the UAE had signed USD 10.3 bn worth of agreements for green hydrogen and ammonia, while a 2022 summary report found that the UAE has signed a total of 10 preliminary low-carbon hydrogen agreements. The UAE plans to snap up 25% of the global hydrogen market by 2030.