Energy security is becoming a global concern. Different countries are exploring and adopting different options to achieve it. The volatility in fuel prices and their secured supplies, e.g., oil & gas and coal, are some of the major concerns of the countries. This concern finds expression in exploring hydrogen as a fuel. Green Hydrogen, which is produced using renewable energy, is the future fuel propelling the low-carbon economy. Therefore, Green Hydrogen projects are being planned and implemented in significant countries. Europe has the highest number of operational H2 projects. Globally, there are 2439 green hydrogen projects at various development stages. Of these projects, 333 are operational, 290 are under construction, 220 are at the demonstration stage, and the remaining projects are at the concept and feasibility stage. Green hydrogen projects’ environmental and socio-economic impact has been qualitatively estimated by mapping the sustainable development goals (SDGs) framework from society, economy, and biosphere dimensions. Literature cites fifty-two opportunities and forty-six challenges linked to SDGs 1, 2, 4.6, 7, 9, 11, 12, and 13 have been identified. The cost of green hydrogen versus conventional fuel is one of the most significant barriers. Most countries are exploring resilient business models that provide proven and cost-efficient solutions under existing frameworks. It starts with adopting energy efficiency measures and deeper electrification, thereby replacing fuel across different sectors of the economy. Further, the knowledge, technology, and experience shared through international cooperation can scale up green hydrogen projects and meet SDGs with net-zero objectives. Adequate policy and regulatory regimes, coupled with economic, financial, and incentives associated with cooperative arrangements by countries, can assist in scaling up green hydrogen.