Green hydrogen getting significant attention
PHILLEPUS UUSIKU
Finance minister, Iipumbu Shiimi, in his mid-term budget review statement highlighted that the government has undertaken concerted efforts to attract private sector investment in a potential new sector of green hydrogen, which augurs well to decarbonise the country and the region.
Simonis Storm Securities is concerned that green hydrogen is seen as a major solution to Namibia’s economic woes.
“While green hydrogen is receiving significant amount of attention and focus, we do caution that long standing challenges and growth impediments remain in place. These issues have been with us for a long time and would need to be addressed, not just to improve the economic recovery from the lockdown induced depression and to achieve sustainable long-term growth, but especially if we want the green hydrogen project to be successful.”
According to Simonis Storm, Namibia only emits 0.04% of global Greenhouse Gas (GHGs) and does not contribute significantly to climate change globally. “We therefore do not see an urgent need to decarbonise our economy. Be it as it may, it remains virtuous to pursue a cleaner and more environmentally sustainable economy for Namibia.”
Namibia’s renewable energy initiatives are likely more to assist other countries to decarbonise, given the low global contribution to GHG emissions. With renewable energy being exported to regional partners and green hydrogen exported to developed countries, Namibia is likely to be a key or strategic partner for other countries in reaching their decarbonisation targets. If successful, these projects will place Namibia in good stead on the international platform, Simonis Storm [email protected]
Finance minister, Iipumbu Shiimi, in his mid-term budget review statement highlighted that the government has undertaken concerted efforts to attract private sector investment in a potential new sector of green hydrogen, which augurs well to decarbonise the country and the region.
Simonis Storm Securities is concerned that green hydrogen is seen as a major solution to Namibia’s economic woes.
“While green hydrogen is receiving significant amount of attention and focus, we do caution that long standing challenges and growth impediments remain in place. These issues have been with us for a long time and would need to be addressed, not just to improve the economic recovery from the lockdown induced depression and to achieve sustainable long-term growth, but especially if we want the green hydrogen project to be successful.”
According to Simonis Storm, Namibia only emits 0.04% of global Greenhouse Gas (GHGs) and does not contribute significantly to climate change globally. “We therefore do not see an urgent need to decarbonise our economy. Be it as it may, it remains virtuous to pursue a cleaner and more environmentally sustainable economy for Namibia.”
Namibia’s renewable energy initiatives are likely more to assist other countries to decarbonise, given the low global contribution to GHG emissions. With renewable energy being exported to regional partners and green hydrogen exported to developed countries, Namibia is likely to be a key or strategic partner for other countries in reaching their decarbonisation targets. If successful, these projects will place Namibia in good stead on the international platform, Simonis Storm [email protected]
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