- The EU and Japan sign a memorandum for renewable and low-carbon hydrogen.
- The long-term objective of the EU and Japan is to achieve carbon neutrality by 2050.
To create a worldwide market for renewable and low-carbon hydrogen that is transparent and governed by laws, the European Union (EU) and Japan have signed a memorandum of cooperation (MoC).
According to a press release from the European Commission, the cooperation would concentrate on hydrogen’s sustainable and reasonably priced production, trading, transport, storage, and consumption.
The MoC offers a framework for specific suggestions for creating cooperation programs. For example, policies, rules, incentives, and subsidies; best practices and know-how; project development; and training and education are just a few areas where the two sides will collaborate.
The long-term objective of the EU and Japan is to achieve carbon neutrality by 2050.