Return on values of hydrogen energy transitions: A perspective on the conceptual framework

Abstract

Global warming poses a significant threat to the planet, driven largely by carbon emissions from fossil fuels. Despite international commitments and efforts to reduce carbon emissions, current initiatives have fallen short of achieving the targets set. Recognizing this gap, the transition to hydrogen energy (HE) as an alternative to fossil fuel emerges as an essential and transformative strategy for achieving emission reduction goals and securing a sustainable energy solution. This study introduces a novel, value-based approach with the primary aim of creating a sustainable HE ecosystem framework that spans three pillars-economic, social, and environmental, aligned with the United Nations Sustainable Development Goals (UN-SDGs). This new framework called the 8R-8I ROV framework introduces the notion of return-on value (ROV) using 8R nature-based value and 8I enablers within the hydrogen energy ecosystem. The study provides a comprehensive characterization of the enablers required for a robust HE ecosystem. These enablers are necessary for ensuring both tangible and intangible outcomes across the three pillars, consequently enhancing value creation for all stakeholders. Through this analysis, the study provides insights into the pivotal role of the enablers within the HE ecosystem, facilitating this transition, and ultimately contributing to the achievement of sustainable development goals.