The world is fighting hard against the Covid-19 pandemic and its effects; however, there is another crisis progressing quickly and silently, that should be attended to urgently. Human induced warming is driving global surface temperatures higher than 1.5°C above pre-industrial levels and clear pathways to global decarbonisation are required to strengthen the response to the threat of climate change.
Addressing climate change for some industrial sectors is a challenge, especially for those where renewable electricity is not a solution, such as: aviation, shipping, glass, cement, iron and the steel industry, among others. These sectors require a clean fuel like green hydrogen to decarbonise their activities.
Green hydrogen’s benefits are viewed with interest by many countries which have found political backup to create a new market for hydrogen. Many hydrogen strategies are under elaboration or implementation around the globe, some of them involved important financial resources like Germany and France, which have allocated €9bn and €7.2bn respectively, only from public funds.
In the specific case of Chile, the opportunity to create a new economy equivalent to today’s copper industry is compelling. According to the National Hydrogen Strategy, the market for Chilean green hydrogen could reach up to $33bn by 2050. Chile is well positioned to become one of the top five producers and exporters worldwide. This is explained by many competitive and comparative advantages such as:
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