Credit Agricole CIB Joins Hydrogen Council
January 24 2020 - 5:56AM
Dow Jones News
By Maitane Sardon
The corporate and investment banking arm of Credit Agricole
SA(ACA.FR) said Friday that it has joined the Hydrogen Council as
it works toward helping its clients adopt clean hydrogen as an
energy source.
The bank said it will be part of an investor group within the
Hydrogen Council, a coalition of CEOs working to increase
investment in the development and commercialization of hydrogen. It
said its role will be to support projects and finance and advise
new players.
Hydrogen doesn't release carbon dioxide or other greenhouse
gases into the atmosphere when burned with oxygen and can be used
to power different types of transportation. According to the
Hydrogen Council, 18% of the global energy demand could be met by
hydrogen by 2050, which would reduce GHG emissions by 20% of the
amount required to reach the Paris Agreement goals. However,
additional investments of $25 billion a year for 10 years are
needed to achieve this, the Hydrogen Council says.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
January 24, 2020 05:41 ET (10:41 GMT)
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