Low-emission hydrogen is widely recognised as an important enabler of industrial decarbonisation, particularly in sectors such as refining, heavy industry, long-distance mobility and fertilisers. However, deployment remains well behind the ambitions outlined in national hydrogen strategies, reflecting the economic, technological and policy challenges that continue to constrain market growth.
Many countries view blue hydrogen, produced from natural gas with carbon capture and storage (CCS), as a practical transition pathway due to its maturity and scalability. Green hydrogen, meanwhile, remains heavily dependent on affordable renewable electricity and continues to face a substantial cost disadvantage relative to conventional hydrogen production. While technological improvements are expected to reduce costs over time, competitiveness remains a key challenge for low-emission hydrogen pathways.
Industry discussions have largely focused on improving production efficiency and reducing renewable electricity costs. By contrast, the impact of rising CO₂ emission prices receives comparatively less attention. Join Sustainability International Conference and Exhibition on November 24 and 25 in Sao Paolo, Brazil and hear Michal Zuk, Hydrogen Analyst at LSEG presentation titled How Emissions Pricing Reshapes the Business Case for Blue and Green Hydrogen – it examines how carbon-price trajectories, fuel costs and production efficiencies influence the economics of grey, blue and green hydrogen, and how these factors interact with evolving hydrogen and carbon-emissions policies.
Scenario-based modelling using LSEG long-term price forecasts shows that rising carbon prices can significantly increase the cost of grey hydrogen, eventually making emissions the largest cost component, ahead of natural gas feedstock. In contrast, carbon-cost exposure is substantially reduced for blue hydrogen, depending on capture rates, and effectively eliminated for green hydrogen.
While government subsidies and support mechanisms can narrow the cost gap between grey and low-emission hydrogen in the near term, such measures are unlikely to be permanent. As support declines, low-emission hydrogen will increasingly need to compete on its own merits, making carbon-price dynamics a critical consideration for policymakers, investors, project developers and industrial off-takers.
The findings suggest that rising carbon prices could become one of the strongest drivers of the transition from grey to low-emission hydrogen, complementing technological improvements and falling renewable-energy costs. Alongside the quantitative analysis, the presentation will review key hydrogen-support and carbon-pricing policies, assessing how regulatory frameworks may influence future hydrogen competitiveness, investment decisions and decarbonisation strategies. The analysis provides a quantitative perspective on how future carbon-cost trajectories may reshape the economics of hydrogen production and accelerate market adoption of low-emission hydrogen.
Seats are limited, so make sure you register now!
About the Speaker
Michał is a Hydrogen Analyst at LSEG. He joined the Natural Gas European Research team in 2022, since then he works on developing LSEG’s bottom-up fundamental analysis of the global hydrogen economy to support clients’ navigation through the noise and uncertainty of a dramatically changing energy system.
He has a Master of Science degree in Biotechnology, prior to joining LSEG he worked as an academic researcher responsible for creating scoring methods used in analysis of complex datasets and implementing novel analytical platforms into laboratory’s workflow.
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Want to know more about decarbonization, sustainable industry trends, and the breakthroughs driving real change? Explore the complete lineup of Industry Link’s 2026 events below:
Cementitious Materials International Technical & Trade Congress – Europe
28–29 October, Brussels, Belgium
A leading EMEA gathering on cementitious materials, market trends, regulatory updates, and regional opportunities.
CarbonZero Alternative Fuels & Raw Materials Global Conference & Exhibition 2026
Including Cementitious Europe – Congress
28–29 October, Brussels, Belgium
Global platform for Net Zero strategies, alternative fuels, raw materials, carbon capture, and emerging technologies.
Speakers include:
- Claudia Albertini, CEO Holcim Belgium
- Mahendra Singhi, Board Member & Strategic Advisor, Dalmia Bharat India, Board Member, GCCA
- Adriana Fernandez, UNIDO
- Nikos Nikolakakos, Environment & Resources Manager, Cement Europe
- Irene Dominguez, Policy Manager, Embodied Carbon & Lead Markets, Bellona Europe
- Maria del Mar Rojas, Science Based Targets Initiative (SBTI)
- Dr Martina Bassan, Corporate Affairs Director, European Metals
- Eadbhard Pernot, Executive Director,Carbon Management Europe
- Kerry Sutton, American Concrete Institute
- Hervé Camerlynck, Managing Director, FEBELCEM
- Jacob Moos, Associate Partner, McKinsey
- Pilar Hidalgo, Innovation Director, Cementos La Cruz
- Anna-Marise Rocha, Commercial Manager, Port of Amsterdam
- Frank Mruk, National Ready Mix Cement Association USA
- Luyue Tan, Senior Research Specialist, Carbon, London Stock Exchange Group
- Grant QUASHA, Chairman and CEO, Eco Material Technologies, A CRH Company, USA
- Dr. Stefan Puntke, Managing Director and Dr. Hans-Jürgen Klischat, Executive for Strategic Projects, Refratechnik
- Hongyan Ma, Professor, Missouri University of Science and Technology, USA
- Marta Diez, Country Manager Spain, Portugal, Italy, CFP Energy
- Dr. Josilene TV Ferrer, Senior Analyst for International Cooperation and Climate Change, Green Planet Institute Brazil
- Andres Ponce, CEO, WTEnergy Advanced Solutions
- Mohammed Fouad, Business Excellence Director, Riyadh Cement Company Saudi Arabia
- Mohammed Zaki, Head of Alternative Fuels & H2 Operations Management, Arabian Cement Company Egypt
- Pilar Hidalgo, Head of Innovation, Cementos Las Cruz, Spain
- Tien Peng, Cofounder, GreenPlum St., Portugal
- Georg Lochner, Strategic company development “New Technologies”, Schwenk Building Materials Group, Germany
- Duncan McLachlan, VP Growth & Enterprise, io Consulting
- Alexander Makhlay, Associate Editor, Argus Media
- Cobi Busst, Principal, Beaumont Bailey
- Firefly
Women in Cement and Construction International Congress 2026 – EMEA
30 October, Brussels, Belgium
A dedicated forum advancing diversity, equity, and inclusion across the cement and construction sectors.
Sustainability Conference and Exhibition to include Industry 5.0 – Smart Solutions for Cement and Construction Conference and Exhibition 2026 in São Paulo (World Trade Center)- will convene leading voices from across the global construction, engineering, and infrastructure sectors to address the urgent challenges of decarbonization, embodied carbon reduction, and climate resilience. As the sector undergoes a massive digital shift, this event also focuses on the technologies defining the next generation of building: AI-driven operations, advanced manufacturing, robotics, and human-centric industrial transformation.
Speakers include:
Álvaro Lorenz – Global Director of Sustainability, Votorantim Cimentos
Vanessa Castro, Sustainability, Cementos Argos
Luciana Arouca – Head of Sustainability Services Brazil & LATAM, JLLAna Lúcia Grizzi – Senior Independent Consultant; Coordinator of the Sustainability and Innovation Committee, Votorantim Cimentos
Josilene T. V. Ferrer – Senior Analyst of International Cooperation and Climate Change, CETESB – Environmental Company of the State of São Paulo
Carla Leal – CDP Market Director for LATAM | Board Members
Patrícia Iglecias – Associate Professor, Faculty of Law, University of São Paulo
Juan Padial – Managing Partner, Digital Supply Chain, KPMG
Felipe Salgado – Managing Partner of Decarbonization, KPMG
Rejane Afonso – Technical and Commercial Director, Monitore
Edilson Júnior – Manager of Innovation and Industrial Technology, Cimento Nacional
Cementitious Materials International Technical & Trade Congress – MEA
8–9 December, Morocco
The premier MEA event for cementitious materials, innovation, and regional trade opportunities.
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