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UniCredit Joins the European Clean Hydrogen Alliance

By July 29, 2021 2   min read  (377 words)

July 29, 2021 |

Fuel Cells Works, UniCredit Joins the European Clean Hydrogen Alliance

The Clean Hydrogen Alliance, set up by the European Commission, supports the spread of technologies related to sustainable hydrogen production to accelerate the energy transition.

Thanks to this participation, UniCredit will be able to successfully contribute to the diffusion of sustainable hydrogen throughout Europe thanks to the close collaboration with the main players in the sector and institutions.

UniCredit has been admitted to the European Clean Hydrogen Alliance, set up by the European Commission, which brings together the main industrial and financial players with the aim of developing and spreading technologies related to the production of clean hydrogen to support and thus accelerate the energy transition on the continent. To date, the alliance has nearly 1500 members operating in various fields (public and private sectors, research institutes, civil societies, NGOs, unions, etc.).

The production of clean hydrogen will play a key role in achieving the objectives set by the European Green Deal and facilitating European leadership in the sector. Currently, the use of hydrogen covers only a marginal portion of the global energy mix, but it is increasingly emerging as a potential decisive solution, especially in the difficult decarbonisation of industrial processes in many production sectors and in achieving climate neutrality in Europe by 2050.

UniCredit, the promoter of sustainable finance, has a long experience alongside its customers in achieving ESG objectives, guiding the reallocation of capital and supporting the transition to a sustainable economy and a more inclusive society. Being part of the Alliance will allow the bank to successfully contribute to the spread of clean hydrogen and renewable energy throughout Europe thanks to a close collaboration with the main players in the sector and with institutions, while maintaining a particular focus on technological innovation.

More and more companies are starting to invest in sustainable hydrogen-based solutions and incorporate it into their long-term decarbonisation strategies. So far, around 30 countries around the world have announced ad hoc strategies for the use of hydrogen for the second half of the year and over 200 projects are in the pipeline.

The European Clean Hydrogen Alliance will play an important role in this context in ensuring the active involvement of the main players in the sector in continuing with the transformation underway, both in terms of ESG issues and technological innovation.

Source: UniCredit

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