June was all about the much-needed investment in and financing of clean energy transitions in emerging market and developing economies (EMDEs).

Hungary has pressed a lot on energy security issues, rather than decarbonisation, in its original Plan for 2020. However, the high energy prices, the war in the neighbouring country of Ukraine and one of the highest inflation rates in Europe have also revived Hungary’s ambitions, pushing the country to make further reforms in the energy sector.

The existing terminology used to describe low-emission hydrogen varies among stakeholders and countries, which complicates trade and investment. An internationally agreed methodology for calculating the emissions intensity of hydrogen production could cut financing costs, bring greater visibility for investors, and enable greater economies of scale.