Abstract
The establishment of global supply chains for renewable hydrogen is a key project of German and European foreign energy policy, but it faces considerable economic and coordination challenges. With the H2Global funding mechanism, Germany has established an effective instrument that offers investment security but replaces key market mechanisms. A one-sided focus on centralised funding carries risks. A diversified funding system is needed that specifically supports private trade relations and the development of a hydrogen derivatives market. These measures serve to increase economic efficiency and strengthen the resilience of energy supply.