“We are living in challenging times. If, on the one hand, economic and social recovery are the immediate priority, on the other, we cannot ignore the threat that climate change poses to society”, João Pedro Matos Fernandes, Portuguese Minister for the Environment and Climate Action, emphasised at the opening of the High-Level Conference on “Hydrogen in Society - Bridging the gaps”, which is taking place today in the context of the Portuguese Presidency of the Council of the European Union.
Regarding Europe’s goals for the environment, the Minister recalled that “achieving carbon neutrality in Europe by 2050 and a reduction of at least 55% in greenhouse gas emissions by 2030 requires profound changes in our energy system and a firm commitment to an energy transition supported by the deployment of renewable energy”.
João Pedro Matos Fernandes, signed in Lisbon a Memorandum of Understanding (MoU) during the High Level Conference “
Hydrogen in Society - Bridging the Gaps”, organised by the Portuguese Presidency of the Council of the European Union.. The proposed MoU is a non-binding agreement aimed at fostering cooperation between the two entities in the sector.
The hydrogen sector will play an important role in accelerating the energy transition, as outlined in the European Hydrogen Strategy launched by the European Commission in 2020, which aims at building a whole hydrogen ecosystem for a climate-neutral Europe by installing 40GW of green hydrogen capacity by 2030. Thanks to the MoU signed today, the EIB will support Portugal’s ambitious environmental objectives set in the 2030 National Energy and Climate Plan, also known as PNEC 2030, and in the 2050 Carbon Neutral Roadmap for Portugal (RNC2050).
European energy ministers have highlighted the need to create a stable regulatory framework for hydrogen in the European Union, capable of attracting private investors into a competitive and predictable market.
Speaking at the conference “Hydrogen in Our Societies – Building Bridges” on Wednesday (7 April), a number of national politicians expressed the same point.
“Public and private investment should ally, and governments have the responsibility to give the right signals, creating the regulatory framework and conditions for the private sector to invest with stability and predictability,” said Portugal’s minister of environment and climate action, João Pedro Matos Fernandes.
Along the same line, Dutch minister of economic affairs and climate policy, Bas van’t Wout, also highlighted the importance of mobilising public sector investment, which he said it would be crucial for implementing the European strategy for hydrogen as a key element in the decarbonisat
th April) joining forces to develop a hydrogen economy in the country.
EIB and the Portuguese Government formalised the pledge by signing a Memorandum of Understanding (MoU) during the
Hydrogen in Society – Bridging the Gaps conference, organised by the Portuguese Presidency of the Council of the European Union.
With the signing of such MoU, Portugal will now play and important role in accelerating the energy transition, as outlined in the European Hydrogen Strategy. Further to this, the agreement will support Portugal’s ambitious environmental objectives set in the 2030 National Energy and Climate Plan.
“I am delighted to sign today this important agreement with the Portuguese Government that aims to accelerate investments in the hydrogen sector in Portugal, said Ricardo Mourinho Félix, EIB’s Vice-President, responsible for the bank’s operations in Portugal.
A High-Level Conference on “Hydrogen in Society: Bridging the Gaps”, organised under the scope of the Portuguese Presidency of the Council of the European Union, will be held on Wednesday, 7 April at 9 am (Lisbon time).
National and international specialists, representatives of the European Commission, of associations and of different decarbonisation sectors in the economy will take part in this international conference, which will be looking at new economic, industrial, scientific and technological opportunities in the hydrogen sector.
Policies and strategies for boosting the global hydrogen market will also be addressed and the international vision of the challenges and opportunities in the sector, the support mechanisms and the promotion of sustainable value chains will be explored.