Explanatory note

Definitions - the terms “reduced carbon hydrogen”, “low carbon hydrogen”, and “ultra low carbon hydrogen” used in the pledges have the meanings attributed to them in the WBCSD Policy Recommendations to accelerate Hydrogen deployment for a 1.5 scenario report; i.e reduced carbon < 6kg CO2/kg H2, low-carbon < 3 kg CO2/kg H2, ultra-low-carbon <1kg CO2/kg H2.

Renewable (or green) hydrogen made from hydro and wind electricity is expected to meet the ultra-low carbon definition today. Renewable hydrogen from solar can have a wider range of intensities from around the low-carbon definition (today) to the ultra-low carbon definition (expected in 2030).

Carbon intensity calculations – in the absence of a globally approved standard methodology to calculate the carbon intensity of hydrogen, companies have estimated the expected carbon intensity of hydrogen in 2030 on a full life cycle basis – including any significant emissions from infrastructure, transport and distribution - from all relevant and material greenhouse gases, using the 100-year time-horizon global warming potential (GWP) values from the IPCC Fifth Assessment Report.

Forward-looking statements – the pledges made by companies make certain forward-looking statements, forecasts or projections with respect ‎to the financial condition, results or plans and ‎objectives of that company. By their nature, forward-looking statements involve ‎risks and uncertainties because they relate to events and depend on circumstances that will or may ‎occur in the future. Actual results may differ materially from those expressed in such statements ‎depending on a variety of factors.

Given that the hydrogen market is still relatively immature and there is a lot of uncertainty as to how the market will scale, companies intend to keep their pledges under review and update them periodically as appropriate.

Commercial and policy contexts – the pledges are subject to government policy support for hydrogen towards net zero carbon emissions, such as those outlined in WBCSD’s Policy Recommendations to accelerate Hydrogen deployment for a 1.5 scenario and also rely on assumptions about the commercial availability of hydrogen and the development of critical infrastructure.

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