KPMG comment on “Glasgow Breakthroughs” announcement at COP26
Simon Virley, vice chair and head of energy and natural resources at KPMG UK, comments.
Simon Virley, vice chair and head of energy and natural resources at KPMG UK, comments.
Commenting on the “Glasgow Breakthroughs” announced at COP26 on 2 November, Simon Virley, vice chair and head of energy and natural resources at KPMG UK, said:
“The striking thing is how clean hydrogen will play a role in all these sectors: clean power, road transport, steel, industry and agriculture.
“The world is placing a big bet on hydrogen. We will now need large-scale investment from both the public and private sectors to drive down the costs of blue and green hydrogen.
“The UK is relatively well placed in this area, with plans for four industrial clusters with blue hydrogen and carbon capture by 2030 along with 40GW of offshore wind by 2030. All this will mean growing amounts of excess renewable power available to produce green hydrogen. The UK has the opportunity now to lead from the front and demonstrate how we make a reality of a low-cost hydrogen economy.”
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About KPMG
KPMG LLP, a UK limited liability partnership, operates from 21 offices across the UK with approximately 16,000 partners and staff. The UK firm recorded a revenue of £2.3 billion in the year ended 30 September 2020.
KPMG is a global organization of independent professional services firms providing Audit, Legal, Tax and Advisory services. It operates in 147 countries and territories and has more than 219,000 people working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.
