New Energy World™
New Energy World™ embraces the whole energy industry as it connects and converges to address the decarbonisation challenge. It covers progress being made across the industry, from the dynamics under way to reduce emissions in oil and gas, through improvements to the efficiency of energy conversion and use, to cutting-edge initiatives in renewable and low-carbon technologies.
Hydrogen technology at the forefront of climate change mitigation efforts
16/8/2023
6 min read
Feature
Hydrogen’s critical role in the energy transition is widely recognised and global demand needs to increase fivefold between now and 2050 to align with the Paris Agreement. This means installed production capacity, particularly low-emission production, must grow 75-fold by 2030 to meet demand. Here, Javier Cavada, EMEA President and CEO at Mitsubishi Power, discusses global developments and his company’s projects.
The scorching summer of 2023 is a stark reminder of why we must act now to address climate change. Despite the global community’s united efforts to reduce carbon emissions, the surge in devastating wildfires, prolonged heat waves and intensified flooding leave no room for doubt that our progress is falling short.
With the upcoming COP28 taking place later this year, we have a window of opportunity to accelerate our collaboration, working hand in hand to achieve the 2050 goals set out in the Paris Agreement to avoid dangerous climate change by limiting global warming to well below 2°C and pursuing efforts to limit it to 1.5°C.
In Europe, Mitsubishi is working with its partners to support their decarbonisation needs that are aligned with the European Commission’s 2030 Climate Target Plan to cut greenhouse gas (GHG) emissions by at least 55% by 2030.