Financiers need to be discerning when funding hydrogen-related projects in Singapore and capital should be ‘prudently’ directed to those that have low financing risks and are aligned with a credible Net Zero pathway.
They are the recommendations from Asia Research & Engagement’s recent paper, which sets out the challenges facing the city state following the publication of its National Hydrogen Strategy, and as projects are becoming more bankable due to policy support.
“Financiers will still need to sort the wheat from the chaff,” it warns. “Financiers should require reputable certificates of origin and ensure they are internationally recognised, stringent, and comprehensive.”
While hydrogen is certain to have a role to play in Singapore’s sustainable future, informed scientific and technical knowledge has demonstrated that it is not a panacea to address the climate challenge and is best coupled with other approaches, the paper adds.
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