United Nations

OCI Global will deliver ammonia produced at its Texas plant to COMPO EXPERT in Germany, replacing 25% of its feedstock with low-carbon ammonia from this year. Meanwhile, the Indian Farmers Fertiliser Cooperative Limited (IFFCO) will offtake 200,000 tons of renewable ammonia per year from ACME’s under-development plant in Gopalpur, Odisha. This second deal will be facilitated by the use of “Internationally Transferred Mitigation Outcomes” (or ITMOs), a credit mechanism established by the Paris Agreement.

A series of flagship hydrogen initiatives were launched at COP28 last month. The initiatives are headlined by a 37-country joint declaration on mutual recognition of certification schemes, a response to sustained calls for increased global regulatory consistency. Additionally, the new ISO methodology for calculating hydrogen emissions was unveiled, paving the way for harmonisation.

Last month UN Climate Change announced an initiative whose goal is to scale up green hydrogen production significantly over the next six years. “The new ‘Green Hydrogen Catapult’ initiative will see green hydrogen industry leaders, including ACWA Power, CWP Renewables, Envision, Iberdrola, Ørsted, Snam, and Yara, target the deployment of 25 gigawatts through 2026 of renewables-based hydrogen production, with a view to halve the current cost of hydrogen to below US$2 per kilogram.”