The global Green Hydrogen economy offers the opportunity to unleash a new glob al energy paradigm, and a new virtuous cycle of global sustai nable economic g rowth and development. The Green Hydrogen economy add ress es the urgent need for global decarbonization, addressing a number of the Sustainable Development Goals (SDGs) established in the 2030 agenda. This paper addresses the promises and challenges permeating the establishment of a global Green Hydrogen economy. This paper introduces two new approaches an d concepts, Green Powershoring and Green Watershoring, to assess a nd analyze how the global Green Hydrogen will evolve, and which countries will tak e the leadership in the global Green Hydrogen economy. Given t he renewable energy-intensive and fresh water - intensive nature of green hydrogen produ ction, countries which are more endowed with these natural resources wil l develop a clear lead and a competitive advantage over countries that d o not possess these natural resource endowments. Thus, the creation of a global Green Hydrogen Divide is inevitable, leading to a number of global geoeconomics and geopolitical consequences.
ABEEolica (2023). Panoramas de Eolicas Offshore no Brasil: Perspectivas e Oportunidades. https://www.viex-americas.com
Agencia Brasil (2023). Australian Company to Produce Green Hydrogen in Brazil. https://www.agenciabrasil.ebc.com.br
Alam, M. (2023). Ocean/Blue Economy for Bangladesh. https://www.mofl.portal.gov.bd
Anouti, Y., Elborai, S., Kombargi, R., & Hage, R. (2023). The Dawn of Green Hydrogen: Maintaining the GCC’s Edge in a Decarbonized World. https://www.strategyand.pwc.com/m1/en/reports/2020/the-dawn-of-green-hydrogen/the-dawn-of-green-hydrogen.pdf
Arbache, J. (2022). Powershoring. CAF Development Bank of Latin America and the Caribbean. https:// https://www.caf.com
Arbache, J., & Esteves, L.A. (2023). Resiliencia com Eficiencia como Powershoring pode Colaborar para a Descarbonizacao e o Desenvolvimento Economico da America Latina. https://www.scioteca.caf.com
ASEAN (2023). ASEAN Blue Economy Framework. https://www.asean.org
Attri, V. (2023). An Emerging New Development Paradigm of the Blue Economy in IORA; A Policy Framework for the Future. https://www.iora.int
Beswick, R., Oliveira, A., & Yan, Y. (2021). Does the Green Hydrogen Economy have a Water Problem? ACS Energy Letters, 6, 3167-3169. https://www.pubs.acs.org https://doi.org/10.1021/acsenergylett.1c01375
Biber, A., Knodt, S., & Visbeck, M. (2022). Sustainable Blue Economy: Transformation, Value and the Potential of Marine Ecosystems. In OCEANS 2023 (pp. 1-5). IEEE. https://www.oceanrep.geomar.de https://doi.org/10.1109/OCEANSLimerick52467.2023.10244621
Blackridge Research & Consulting (2023). Top 10 Green Hydrogen Companies in the World. https://www.blackridgeresearch.com
Blue Resources (2022). The Blue Economy: From Concept to reality in the Caribbean Region. https://www.blueresources.co.uk
Braga, H., Gouvea, R., & Gutierrez, M. (2023). Brazilian Export Processing Zones & Green Powershoring: Challenges & Opportunities. Modern Economy, 14, 1366-1392. https://doi.org/10.4236/me.2023.1410070
Cai, Y., & Breon, F. (2021). Wind Power Potential and Intermittency Issues in the Context of Climate Change. Energy Conversion and Management, 240, Article 114276. https://doi.org/10.1016/j.enconman.2021.114276
Castellanos, G., Roesch, R., & Sloan, A. (2021). A Pathway to Decarbonise the Shipping Sector by 2050. IRENA. https://www.irena.org
Castro, N., Braga, S., Pradelle, F., Chaves, A., & Chantre, C. (2023). A Economia do Hidrogenio: Transica, Descarbonizacao e Oportunidades para o Brasil. E-papers Servicos Editoriais.
Chen, P., Fan, H., Enshaei, H., Zhang, W., Shi, W., Abdussamie, N., Miwa, T., Qu, Z., & Yang, Z. (2023). A Review on Port’s Readiness to Facilitate International Hydrogen Trade. International Journal of Hydrogen Energy, 48, 17351-17369. https://doi.org/10.1016/j.ijhydene.2023.01.220
Chiappini, G. (2023). Hidrogenio Verde: Conheca 10 Projetos Promissores em Desenvolvimento no Brasil. https://www.epbr.com.br
Coelho, F., & Menezes, R. (2023). Valor Energetico do Mar Territorial Brasileiro: Brasil uma Potencia Energetica. In R. D. Regazzi, & D. A. Procopio (Eds.), Economia do Mar, Economia do Mar (pp. 205-208). Editora Senac.
Deloitte (2023). Green Hydrogen: Energizing the Path to Net Zero. https://www.deloitte.com
Dennett, G. (2023). Record Level of Renewable Energy in Australia for 2022-2023. Ecogeneration. https://www.ecogeneration.com.au
Dewa (2021). Dubai Inaugurates Green Hydrogen Project. https://www.dewa.gov.ae
DiFelice, M., & Vargas, J. (2022). The Dirty Side of Green Hydrogen. Food and Water Watch. https://www.foodandwaterwatch.org
Drew, M., Barsky, D., Gifford, J., Yang, V., Erdman, T., Stettler, A., Ludwig, S., & Ribet, P. (2020). Engaging for a Blue Economy. Credit Suisse. https://www.revocean.org
Ebarvia, M. (2016). Economic Assessment of Oceans for Sustainable Blue Economy Development. Journal of Ocean and Coastal Economics, 2, Article 7. https://doi.org/10.15351/2373-8456.1051
Ebarvia, M. (2022). Blue Economy: Where Are We Now? Where Are We Headed? https://www.pemsea.org
Economic Advisory Council to the Prime Minister Government of India (2020). India’s Blue Economy: A Draft Policy Framework. https://www.ncmrwf.gov.in
European Commission (2023). Keynote Speech by President Von Der Leyen at the European Hydrogen Week 2023, via Video Message. Speech/23/5907.
Fekete, H., & Imogen Outlaw, N. (2023). The Role of Green Hydrogen in a Just, Paris-Compatible Transition. New Climate Institute. https://www.newclimate.org
Good New Energy (2023). A Few of the World’s Top Green Hydrogen Projects. https://www.goodnewenergy.enagas.es
Gouvea, R., & Gutierrez, M. (2023). The Sustainable Brazilian Blue Economy: A Blue Powershoring and Blue Watershoring Strategy. Modern Economy, 14, 1892-1920. https://doi.org/10.4236/me.2023.1412099
Gouvea, R., & Kassicieh, S. (2010). Building an Eco-Innovation Cluster: Water Cluster in the Brazilian Amazon Region. International Journal of Emerging Markets, 4, 315-334. https://doi.org/10.4018/jsesd.2010040103
Gouvea, R., Kassicieh, S., & Montoya, M. (2013). Using the Quadruple Helix to Design Strategies for the Green Economy. Technological Forecasting and Social Change, 80, 221-230. https://doi.org/10.1016/j.techfore.2012.05.003
Heid, B., Sator, A, Waardenburg, M., & Wilthaner, M. (2022). Five Charts on Hydrogen’s Role in a Net-Zero Future. McKinsey Sustainability. https://www.mckinsey.com
Holland & Knight (2021). Future Fuels in the Maritime Sector—Building the Bridge to Hydrogen. https://www.hklaw.com
Hydrogen Council (2023). Hydrogen Insights 2023. https://www.hydrogencouncil.com
IEA (2022). Norway 2022. https://www.iea.org
IEA (2023a). Hydrogen. https://www.iea.org
IEA (2023b). Global Hydrogen Review 2023. https://www.iea.org
IISD (2023). 2023 UN Climate Change Conference (UNFCCC COP28). https://www.sdg.iisd.org
ING (2023). COP 28: What Companies and Investors Should Know. https://www.ing.com
IRENA (2020). Global Renewables Outlook. https://www.irena.org
IRENA (2022a). Renewable Statistics 2022. https://www.irena.org
IRENA (2022b). Global Hydrogen Trade to Meet the 1.5°C Climate Goal. https://www.irena.org
IRENA (2023). Renewable Power Generation Costs in 2022. https://www.irena.org
Jagranjosh, J. (2022). Top 10 Countries with Freshwater Resources. https://www.jagranjosh.com
Klein, J. (2023). Marco Legal da Energia Offshore e Pleito para 2023. Jornal do Comercio, 5. https://www.digital.jornaldocomercio.com
Leal, K., Couto, F., & Rosas, R. (2023). Petrobras Investira US$ 102 bilhoes em 5 anos. Valor Economico, B9.
Leamer, E. (1995). The Heckscher-Ohlin Model in Theory and Practice. Princeton Studies in International Finance, No. 77. Department of Economics, Princeton University. https://www.ies.princeton.edu
Li, F. (2023). Blue Economy to Boom Economy: EU’s Experience and ASEAN-China’s Path. Open Journal of Political Science, 13, 240-254. https://doi.org/10.4236/ojps.2023.132015
Maersk Mc-Kinney Moller Center (2022). Maritime Decarbonization Strategy 2022. www.zerocarbonshipping.com
Maguire, G. (2023). Brazil Set to Widen Lead as Cleanest Major Power Sector. https://www.reuters.com
Mason, C. (2023). Overcoming Green Hydrogen’s Major Operational Cost: Electricity. https://www.powermag.com
Ministry of New and Renewable Energy (2023). R&D Roadmap for Green Hydrogen Ecosystem in India. Government of India. https://www.icgh.in
Morgan, P., Huang, M., Voyer, M., Benzaken, D., & Watanabe, A. (2022). Blue Economy and Blue Finance. https://www.adb.org
National Secretariat of Ports and Waterway Transportation (2023). BR do Mar Cabotage Incentive Program. https://www.gov.br
Offutt, M. (2023). The Hydrogen Economy: Putting the Pieces Together. Congressional Research Service. www.everycrsreport.com
Oil & Gas (2022). Can GCC Countries Become Major Green Hydrogen Producers? https://www.oilandgasmiddleeast.com
Onorati, A., Payri, R., Vaglieco, V., & Agarwal, A. (2022). The Role of Hydrogen for Future Combustion Engines. International Journal of Engine Research, 23, 529-540. https://doi.org/10.1177/14680874221081947
Our World in Data (2023a). Share of Electricity Production from Hydropower 2022. https://www.ourworldindata.org
Our World in Data (2023b). Share of Electricity Production from Wind. https://www.ourworldindata.org
Ouziel, S., & Avelar, L. (2021). 4 Technologies That Are Accelerating the Green Hydrogen Revolution. World Economic Forum. https://www.weforum.org
Pacheco, B. (2023). A Hora e a Vez do Brasil. Forbes Money. https://www.forbes.com.br
Pauli, G. (2010). Blue Economy: 10 Years, 100 Innovations, 100 Million Jobs. Paradigm Publication.
Pauli, G. (2015). The Blue Economy; 200 Projects Implemented US$ 4 Billion Invested 3 Million Jobs Created. Academic Foundation.
Pauli, G. (2017). The Blue Economy 3.0: The Marriage of Science, Innovation and Entrepreneurship Creates a New Business Model That Transforms Society. https://www.everand.com
Paysant, D., & Mivielle, J. (2023). World’s Oceans Set New Surface Temperature Record: EU Monitor. https://www.phys.org
Poddar, S., Kay, M., Prasad, A., Evans, J., & Bremmer, S. (2023). Changes in Solar Resource Intermittency and Reliability under Australia’s Future Warmer Climate. Solar Energy, 266, Article 112039. https://doi.org/10.1016/j.solener.2023.112039
Regazzi, R., & Procopio, D. (2023). Economia do Mar: Uma Estrategia de Desenvolvimento Sustentavel Brasil-Portugal. Editora Senac.
Renewables Now (2023). Spain Renewables Share at 42% in 2022. https://www.renewablesnow.com
Reuters (2023). Renewable Share of German Power Use Climbs to 52.3% in First Half. https://www.reuters.com
Sailer, A., Wilfing, H., & Straus, E. (2022). Greenwashing and Bluewashing in Black Friday-Related Sustainable Fashion Marketing on Instagram. Sustainability, 14, Article 1494. https://doi.org/10.3390/su14031494
Siemens Energy (2023). Bridging the Gap—From Perception to Reality. Global Energy Transition Index. https://www.assets.siemens-energy.com
Squadrito, G., Maggio, G., & Nicita, A. (2023). The Green Hydrogen Revolution. Renewable Energy, 216, Article 119041. https://doi.org/10.1016/j.renene.2023.119041
Statista (2023a). Hydropower Generation by Country 2021. https://www.statista.com
Statista (2023b). Share of Renewable Sources in Electricity Generation in Canada from 2010 to 2022. https://www.statista.com
Statista (2023c). Share of Wind Electricity Generation Worldwide 2010-2022. https://www.statista.com
Strategy& (2023). H2 Readiness of German Industry: Unleashing Opportunities in the Wake of the Latest Market Developments. https://www.strategyand.pwc.com
Talman, K. (2023). The Tough Truth Behind Corporate Net Zero Sustainability Targets. BBC Earth, 12th November. https://www.bbc.com
The Economist Intelligence Unit (2015). The Blue Economy: Growth, Opportunity and a Sustainable Ocean Economy. https://www.oceanprosperityroadmap.org
U.S. Department of Energy (2023). Pathways to Commercial Liftoff: Green Hydrogen. U.S. Department of Energy. https://www.liftoff.energy.gov
UNDP (2023a). An Ocean of Opportunities: How the Blue Economy Can Transform Sustainable Development in Small Island Developing States. Action Brief. https://www.undp.org
UNDP (2023b). Blue Digital. https://www.undp.org
UNEP (2023a). Sustainable Blue Economy: Finance Initiative. https://www.unepfi.org
UNEP (2023b). UN Climate Change Conference (UNFCCC COP 28). https://www.unep.org
Wiatros-Motyka, M. (2023). Global Electricity Review 2023. Wind and Solar Reached a Record 12% of Global Electricity in 2022, and Power Sector Emissions May Have Peaked. EMBER. https://www.ember-climate.org
Wood, J. (2022). Which Countries Could Become the World’s Hydrogen Superpowers? World Economic Forum. https://www.weforum.org
World Bank (2016). Blue Economy Development Framework. https://www.thedocs.worldbank.org
World Economic Forum (2023). Fostering Effective Energy Transition 2023 Edition. https://www.weforum.org
World Population Review (2023). Renewable Energy Consumption. https://www.worldpopulationreview.com
World-Energy (2020). Gigawatt-Scale: The World’s 13 Largest Green-Hydrogen Projects. https://www.world-energy.org
Yale Environment 360 (2023). Fossil Fuels Now Account for Less than Half of China’s Power Capacity. https://www.e360.yale.edu
Yashiro, M. (2022). Sustainable Blue Economy Approach to National Development Planning. https://www.rmke12.ekonomi.gov.my
Yohannes, B., & Diedou, A. (2022). Green Hydrogen: A Viable Option for Transforming Africa’s Energy Sector. Africa Renewal. https://www.un.org