Hydrogen will play a crucial role in driving the green transition with demand expected to surge in the coming decades. Around 60 governments have adopted hydrogen strategies, while the number of planned projects is already exceeding 1,500 globally compared to around 200 in 2021 – an increase of around 600%. To realize these projects, a total investment volume of US$680bn until 2030 may be needed, according to the Hydrogen Council and McKinsey, which will trigger a greatly increased demand for insurance to protect against risks as this investment is activated. Europe is leading the way by far with 617 planned projects and the highest total investment announced at $199bn.

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