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Allianz Commercial: Insurance market for hydrogen could reach more than US$3 billion by 2030
- Hydrogen demand could increase fivefold by 2050, while clean production may rise to 60% by 2035, driven by significant investments and planned projects globally.
- While market potential for hydrogen is very high, there are lots of unknown variables and risks for setting up a robust and secure infrastructure.
- The insurance sector has an important role to play in the hydrogen economy, addressing risks across the supply chain, from construction and production through to the end user, and through direct investment.
SINGAPORE – Media OutReach Newswire – 30 July 2025 – 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.
While the potential of hydrogen is undoubtable, there are still challenges and headwinds to overcome. The potential size and scope of the hydrogen economy will depend on a range of factors including the evolving political, trade, and economic environment, as well as demand. Policymakers and regulators need to address costs for the development of the infrastructure, so that scaling up at a competitive level towards other energy sources is possible. Across all industries, stringent safety measures will be vital to manage hydrogen’s inherent risks. This is where the insurance industry comes into play. As hydrogen becomes integrated into the global economy, insurers can expect to see a significant increase in demand for coverage, with Allianz Commercial expecting the insurance market for hydrogen project coverage to grow to over US$3 billion in premiums by 2030.
“Insurers have a key role to play in the development of the hydrogen economy, enabling investment and innovation, and providing risk management advice and guidance. Collaboration and knowledge-sharing within this industry are essential for developing best practices and building expertise. By addressing these multi-faceted challenges, the insurance sector can support the growth of the hydrogen economy and help facilitate the transition to net-zero emissions,” says Anthony Vassallo, Global Head of Natural Resources at Allianz Commercial.
Hydrogen offers great potential in Asia Pacific, but challenges and risks remain
While it holds much promise and has been used in the chemical and refinery sectors for many decades, with risks such as fire, explosion and embrittlement being already well-known, the integration of hydrogen into other industries brings a range of challenges with currently planned mega projects requiring a scale-up of risk management. Energy production facilities will involve hydrogen storage and high-temperature combustion, which can lead to leaks and explosions. In transport, applications like hydrogen fuel cell vehicles will also face risks of hydrogen embrittlement and leaks. Port operators, bunkering facilities and fuel handlers will need to manage highly flammable and cryogenic hydrogen fuels, bringing accident and contamination risks.
“Hydrogen holds significant promise in driving the energy transition across the Asia Pacific region, and we are already seeing power generation projects being developed that are designed to run with hydrogen as a potential fuel source. Further collaboration between countries can also be expected, in areas such as storage and transportation infrastructure, that will help to accelerate the deployment of hydrogen in the region. Allianz Commercial, with its proven expertise in low-carbon and energy sectors, is dedicated to supporting clients on their sustainability journey,” adds Trent Cannings, Regional Head of Natural Resources & Construction and Head of Specialty Hub at Allianz Commercial Asia Pacific.
Risk management and mitigation are crucial for hydrogen projects
Given hydrogen’s unique properties and high combustibility, ensuring safety throughout the value chain is crucial. Analysis of hydrogen-related incidents shows that undetected leaks can easily lead to explosions; equipment design, maintenance and training can help prevent the escape of flammable hydrogen gas, while the risks of ignition can also be reduced by locating hydrogen facilities in the open. Embrittlement risks can be managed using hydrogen-compatible materials and specifically designed resistant coatings. In addition to preventing incidents, organizations can take steps to limit the extent of property damage, business interruption, and third-party liability. Buildings and facilities should be designed and constructed to withstand natural hazards, fire and explosion, and limit damage to adjacent property and equipment. Robust hydrogen leak detection and isolation systems are also paramount. Human error is also a common factor in large losses. Operational, safety, emergency procedures, and training should be frequently updated, including having robust and well-rehearsed plans in place for accidental releases.
“Given the wide reach of the hydrogen value chain and its potential uses, the implications for insurance could be far-reaching, touching on multiple sectors and lines of business over the next decade. However, from an exposure and potential claims perspective, product lines such as Energy, Natural Resources and Liability are likely to see the biggest impact from hydrogen risks over the next five to 10 years, followed by Property and Marine,” explains Vassallo.
Hashtag: #allianzcommercial
https://commercial.allianz.com/
financial strength, and network of the world’s #1 insurance brand, we work together to help our customers prepare for what’s ahead: They trust us in providing a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and Multinational services as well as seamless claims handling. Allianz Commercial brings together the large corporate insurance business of Allianz Global Corporate & Specialty (AGCS) and the commercial insurance business of national Allianz Property & Casualty entities serving mid-sized companies. We are present in over 200 countries and territories either through our own teams or the Allianz Group network and partners. In 2024, the integrated business of Allianz Commercial generated around €18 billion in gross premium globally.
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Credo Assurance Earns ESG Certification to Support Sustainability Reporting
A Response to a Changing Regulatory Environment
Singapore’s corporate sustainability environment has undergone a major transformation in recent years. What began as voluntary corporate social responsibility is now transitioning into a regulated requirement driven by new disclosure mandates. The Singapore Exchange (SGX) requires all listed companies to publish sustainability reports, with climate-related disclosures to be aligned with the International Sustainability Standards Board (ISSB) framework.
These developments mirror global trends, including the European Union’s Corporate Sustainability Reporting Directive (CSRD) and the proposed climate disclosure rules by the US Securities and Exchange Commission (SEC). Notably, these frameworks are influencing supply chains and investment decisions worldwide.
A Commitment to Rigorous Standards and Responsible Practice
The certification was issued by the Institute of Singapore Chartered Accountants (ISCA) under the Professional Certification in Sustainability Assurance programme, which focuses on the International Standard on Sustainability Assurance (ISSA 5000). The curriculum also covers key frameworks, such as ISAE 3000, ISO 14064-3, and the reporting principles set out by the Sustainability Reporting Advisory Committee (SRAC).
Participants undergo six months of structured e-learning and a three-day capstone assessment module, which includes a comprehensive 65-question examination. The programme integrates the Task Force on Climate-related Financial Disclosures (TCFD), European Sustainability Reporting Standards (ESRS), Global Reporting Initiative (GRI), Carbon Disclosure Project (CDP), the Sustainability Accounting Standards Board (SASB), and other global reporting standards.
“The certification demonstrates our firm’s dedication to professional rigour and to supporting Singapore’s transition toward a sustainable, transparent economy,” as revealed by Ethan Ong, Director of Credo Assurance. “We aim to strengthen stakeholder confidence and enhance the quality of ESG reporting.”
New Sustainability Assurance Services to Support Businesses Across Sectors
Building on this certification, Credo Assurance has launched its sustainability assurance service. The firm will provide assurance on ESG disclosures, assess internal data controls, and advise on alignment with recognised frameworks such as GRI, ISSB, TCFD, and SASB. In addition, the service covers climate audit and reporting, ESG data verification, and training programmes to help companies integrate sustainability practices into daily operations.
Credo Assurance’s new offering aims to support a wide spectrum of organisations, from listed companies preparing for upcoming SGX requirements to SMEs participating in global supply chains. Industries with significant environmental or social footprints, such as energy, construction, manufacturing, transport, and real estate, are expected to benefit most from independent verification. These services also extend to firms seeking ESG-linked financing or those aiming to enhance their brand credibility and investor trust through transparent reporting.
Shaping the Future of ESG Assurance in Singapore
As Singapore moves toward mandatory climate-related disclosures in 2025, ESG assurance is set to become essential in the audit and accounting sector. Independent verification of non-financial information, such as carbon emissions, labour practices, or governance metrics, helps ensure sustainability reports present accountable and measurable performance.
“ESG assurance is the next evolution of trust in business reporting,” said Mr Ong. “It applies the principles of audit integrity to sustainability, enabling companies to demonstrate both their financial performance and their broader responsibility to society and the environment.”
Hashtag: #CredoAssurance #AccountingFirmSingapore #ESGAssurance
https://credo.sg/
https://www.linkedin.com/company/credo-assurance-llp
The issuer is solely responsible for the content of this announcement.
About Credo Assurance
Credo Assurance LLP is an ACRA-registered public
accounting firm in Singapore. They provide audit, accounting, and advisory services to both businesses and individuals, helping clients navigate complex regulatory requirements and economic challenges.
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Understanding Credit Exemptions at SIM: A Guide for Polytechnic and SIM GE Diploma Graduates
Understanding Credit Exemptions
Credit exemptions enable students to receive recognition for modules previously completed during prior studies. This eliminates the need to repeat similar content, allowing eligible students to focus on new areas of learning. This practice, widely adopted in higher education, ensures students build upon existing knowledge while meeting the academic standards of their chosen degree programme.
Eligibility and Assessment
Credit exemptions at SIM GE are not granted automatically. Each application undergoes a rigorous evaluation to maintain academic integrity. The assessment considers several factors, including the relevance of previous qualifications to the chosen degree, the level and content of prior modules compared to the programme requirements, and the accreditation and recognition of the awarding institution. Through these measures, SIM GE ensures flexibility for students with diverse educational backgrounds while upholding academic excellence.
Types of Exemptions Available
SIM offers several pathways for credit exemptions, depending on prior qualifications and programme requirements. Holders of relevant Polytechnic or equivalent diplomas may receive exemptions that can reduce the overall study duration by up to one year, subject to programme-specific criteria and GPA requirements. Students who have completed SIM GE diplomas or other recognized qualifications may be eligible for advanced standing when enrolling in selected partner university programmes offered through SIM Global Education. For applicants with qualifications outside standard frameworks, exemptions are assessed individually on a case-by-case basis to ensure alignment with academic standards and programme requirements.
Key Information for Applicants
Credit exemptions are designed to acknowledge prior learning while ensuring that all students meet the academic standards of their chosen programme. They are not guaranteed and vary based on factors such as the relevance of previous qualifications, programme requirements, and institutional recognition. Applicants are encouraged to review the specific exemption policies for their intended programme and seek guidance from SIM Counsellors to understand their options.
References:
- SIM GE University Partners – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge
Hashtag: #SIMGlobalEducation #SIMGE #GlobalEducation #InternationalDegree #CareerReady #FutureSkills
The issuer is solely responsible for the content of this announcement.
About SIM Global Education
SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 16,000 full- and part-time students and adult learners, of which approximately 36% are international students hailing from over 50 countries.
SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.
For more information on SIM Global Education, visit sim.edu.sg
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30 Million Strong: China Changan Automobile Group Hits Historic Production Milestone, Ushering in New Era of User-Centric, Tech-Driven Global Growth
“Changan remains committed to delivering smarter, greener, and more fulfilling mobility, meeting the aspirations of global users for a better future.” said Zhu Huarong, Chairman of China Changan Automobile Group.
Uncompromising Safety: The “Safe Journey Home”
Safety is Changan’s top priority, a commitment dating back to 1999 with China’s first minivan crash test. Since then, the company has advanced its protective capabilities from passive safety structures to today’s active safety interventions. Backed by the industry’s only State Key Laboratory of Intelligent Vehicle Safety Technology, Changan uses its proprietary CA-ITVS verification system to subject vehicles to over 5 million kilometers of testing—guaranteeing a lifespan of 10 years or 260,000 kilometers.
In the smart era, Changan is redefining protection with its newly launched “SDA Intelligence”. Moving beyond physical defense, SDA Intelligence introduces a holistic safety ecosystem that secures both passengers and their data, ensuring a “Safe Journey Home” in every dimension.
Tech-Driven: Innovations That Matter
Driven by its Green and Intelligent strategies, Changan is bringing tangible innovations to market. The Green Plan targets electrification, battery safety, and new energy vehicle ecosystems, while the Intelligent Plan advances vehicle intelligence, autonomous systems, and connectivity. Key breakthroughs include the Golden Shield Battery system for superior safety, and the high-frequency pulse heating for cold-weather efficiency. The BlueCore 3.0 powertrain delivers hybrid and ICE solutions, balancing high performance with exceptional fuel economy. These technologies ensure that every journey is efficient and reliable.
A Bold Future: Smart Mobility and Global Reach
Looking ahead to 2030, Changan has unveiled a visionary roadmap to rank among the world’s top 10 automotive brands with annual sales of 5 million units. By 2030, Changan expects over 60% of sales to be new energy vehicles and 30% to come from overseas markets, solidifying its place on the world stage.
The issuer is solely responsible for the content of this announcement.
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