Recently, initiated by REFIRE Group, jointly developed by Shanghai Environment and Energy Exchange (hereinafter referred to as “Shanghai Environmental Exchange”), Sinopec Capital, and Climate Bridge (Shanghai), a Chinese carbon offset solutions provider, and supported by China Hydrogen Alliance, the 101st small scale CDM methodology, viz emission reduction by hydrogen fuel cell vehicles, was reviewed and approved on July 14, 2022 at the 87th and 88th meetings of the CDM Meth Panel. A vote is expected at the 115th meeting of the Executive Board of Clean Development Mechanism (CDM EB 115) that is to be held in Jamaica from 5 to 8 September 2022.
As the initiator and developer of the world’s first carbon emission reduction methodology on hydrogen, REFIRE has carried out close cooperation with Shanghai Environmental Exchange and Sinopec Capital on carbon emission reduction on hydrogen by virtue of sophisticated technologies and products, remarkable records in commercial applications, as well as resource advantages of the industrial chain and ecosphere. Collaborations focus on development and certification of carbon emission reduction methodology, carbon trading system construction and carbon finance studies at the user end of hydrogen fuel cell vehicles, with attempts to contribute to realizing China’s “30·60” decarbonization goal through a new path and a new model. Our priority now is to advance the combination of the promotion and application of hydrogen fuel cell vehicles with an innovative carbon trading market, and to support the recognition and trading in the carbon trading market of carbon emission reductions generated by users in applying hydrogen fuel cell vehicles.
REFIRE takes the lead in initiating the methodology of emission reduction by hydrogen fuel cell vehicles, which fills a void in this field globally where no precedent for relevant emission reduction certification projects is recorded so far. The efforts contribute to accelerating the popularization of hydrogen fuel cell vehicles, promoting the growth of China’s hydrogen energy industry, underpinning the application of fuel cell technologies in more fields other than vehicles and corresponding methodological research, and helping realize carbon neutrality globally as soon as possible.
The hydrogen-powered vehicle carbon emission reduction methodology is applicable to new energy vehicles using hydrogen fuel cell technologies, including passenger, freight, and private vehicles. Compared with traditional oil-fueled vehicles, hybrid electric vehicles (HEVs) and battery electric vehicles (BEVs), hydrogen fuel cell vehicles can greatly reduce carbon emissions generated by oil/electricity consumption in that hydrogen produces lower carbon emissions, especially green hydrogen, a zero-emission fuel, thus promoting greenhouse gas (GHG) emission reduction. Statistically, transportation GHG emissions account for 12% of the total in China, while more than 80% of which are taken up by road transport emissions. Therefore, the popularization of hydrogen fuel cell vehicles will play a critical role in future GHG emission reduction.
Carbon trading is a major institutional innovation to promote green and low-carbon development. In areas with high emission intensity such as commercial vehicles, especially heavy-duty trucks, developing carbon emission reduction methodology and innovating carbon trading products will accelerate considerably the popularization of hydrogen fuel cell vehicles and create remarkable economic and social benefits. For enterprises, carbon emission reductions can be utilized to achieve carbon neutrality for themselves, so as to practice corporate social responsibility and explore sustainable social values. Meanwhile, carbon trading helps enhance the economic benefit of fuel cell vehicles, and carbon asset management is necessary for optimizing enterprise asset allocation, which will bring new opportunities for enterprises to reduce costs and increase profits, as well as seek innovation and transformation.
As an active deployer of R&D and commercial application of hydrogen fuel cell technologies, REFIRE will collaborate closely with industrial chain and ecosphere partners to continuously promote the interaction, integration and innovation of hydrogen technology development, fuel cell application and global carbon market construction, thereby coping with the crisis and challenges brought by climate change more effectively, bringing hydrogen and fuel cell into human life and creating a sustainable future.
(All pictures are collected from the web.)
Headquartered in Shanghai, REFIRE is the world’s leading deployer of commercial hydrogen fuel cell zero-emissions technologies. The company specialises in designing, testing, prototyping, application engineering and in integrated fuel cell systems for buses, trucks, specialised vehicles, power supply units, and marine applications.
As of Q1 2021, REFIRE fuel cell technologies and products are powering over 2,700 fuel cell vehicles (FCVs) in daily use in 15 cities across China, as well as various projects in five other countries. To date, combined vehicle mileage exceeds 63 million kilometres.
Marketing & Communications Department, REFIRE