Investability

Assesses the perceived risk and attractiveness of investment and lending to hydrogen projects in the jurisdiction.

Investment risk

Countries with lower political and commercial risk benefit from lower cost of capital and, consequently, LCOH, that will lead to earlier commercial breakeven vs. incumbent fossil-based energy/feedstock. Scoring evaluates:

• S&P credit rating (August 2021)

• Country equity risk premium (August 2021)

Ease of doing business

Countries with higher ease of doing business will attract greater private sector interest and faster industry take-off. Scoring evaluates:

• World Bank Ease of Doing Business 2020

Other

The score is adjusted for any relevant country-specific considerations