WEF – Accelerating the Clean Hydrogen Economy in Latin America, 2024

Clean hydrogen is becoming increasingly important in the global decarbonization effort, particularly in hard-to-abate sectors like heavy industry and long-distance transport. Latin America, with its abundant renewable resources, has the potential to become a major player in the global clean hydrogen economy by producing it at a competitive cost. Countries in the region have different strategies for developing their clean hydrogen economies, including becoming net exporters, local decarbonizers, or focused players in specific industries. The World Economic Forum, in collaboration with Accenture, is supporting Latin America's transition to a clean hydrogen economy through the Transitioning Industrial Clusters Initiative. However, the region faces challenges such as low demand, slow infrastructure development, technology adaptation, high costs, and lack of standards and certification. Overcoming these challenges will be essential for Latin America to realize its potential as a key player in the clean hydrogen economy.