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As a key part of Singapore’s climate plans, Wong also unveiled a National Hydrogen Strategy, aimed at moving as much as half of the nation’s power supply to hydrogen by mid-century. Singapore’s announcement comes as countries globally are being urged to ramp their climate commitments in the run-up to COP27.
At the COP26 climate conference in November, the United Nations identified hydrogen as the “backbone” of our clean energy future. Estimates say the global cannabis market will reach US$90 billion by 2026, up from US$20 billion in 2020. Alberta Innovates is the launch partner for the Future 50. Next Hydrogen. Growth rate*: 8,800%.
While an element can be explained by the Russia’s illegal invasion of Ukraine and its energy security shocks, the overall direction questions the commitments at COP26 to reduce fossil fuel investments. To achieve this, supplychains need to be re-engineered with data at their heart.
Extension of explicit carbon pricing has been high on the agenda of asset owners for some time and was a key focus of investor expectations ahead of COP26. Combined, they are driving the trend toward ‘friend-shoring’ – focusing trading and supplychain relationships with those you trust most.
But energy investment would need to double this decade to more than US$190 billion each year from 2026 to 2030 (equivalent to 6.1% Given the diversity described above, it’s no surprise that many already see financing opportunity across the continent and its energy sector’s supplychain, as it embarks on its green transition. .
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