HYPOVEREINSBANK PAVES THE WAY FOR THE FUEL OF THE FUTURE
Friday 31 July 2020
By joining the Hydrogen Alliance Bavaria, HypoVereinsbank continues to be #PartOfTheSolution committing to sustainability and supporting the local economy.
HypoVereinsbank has joined Hydrogen Alliance Bavaria. Together with other players from economy, science and politics, HypoVereinsbank will contribute to strengthening and expanding Bavaria’s technological competence in the field of innovative hydrogen technologies and support the activities of the Center Hydrogen.Bavaria, which was founded in 2019.
In concrete terms, the bank’s commitment is aimed at supporting and financing hydrogen-related projects in order to transfer the relevant technologies on a broad scale into practical applications and thus contribute to climate protection. In addition, HypoVereinsbank enables investors to make targeted investments in companies that are active in the development and production of hydrogen drives, fuel cells or electrolysis plants.
“Hydrogen technologies play a key role in the transition to a climate-neutral economy,” says Jan Kupfer, Head of Corporate & Investment Banking Germany and Deputy Head of Corporate & Investment Banking at UniCredit. “Sustainability is a central element of our bank’s business strategy and we look forward to bringing our many years of experience and expertise in financing renewable energy and natural resources to the alliance”.
Joining the alliance is a further element in the broad sustainability activities of UniCredit and HypoVereinsbank. The bank supports sustainable infrastructure projects with the teams Infrastructure and Power Project Finance and Natural Resources. UniCredit itself has committed to withdraw completely from coal-fired power plant projects by 2023. In addition, in June 2020, HypoVereinsbank has signed a voluntary commitment to align its loan and investment portfolios with the objectives of the Paris Climate Convention.