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  "documentTitle": "ey esg fintech studie 2022",
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      "text": "Hydrogen movement gains ground",
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      "text": "According to the analysis undertaken by IEA, even though the uptake of hydrogen is increasing, significant contribution to clean energy transition needs to be adopted in sectors where it is almost completely absent, such as transport, buildings, and power generation.23 To realize the full potential of the resource, innovations and technical advancements will become essential to drive the agenda. Policy interventions thus will play a pivotal role in accelerating adoption and lowering the costs.",
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      "text": "In early 2019, preliminary work on hydrogen was announced by only a handful of countries, such as China, France, Japan, and South Korea. Two years later, more than 10 countries –including Australia, Chile, Finland, Germany, Norway, Portugal, and Spain, plus the EU –have developed detailed hydrogen strategies, while nine more countries are expected to unveil strategies in the near future.20",
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      "text": "It has been widely accepted that there has been a lack of common approach as far as setting the net zero targets is concerned. However, in October 2021, Science-Based Targets initiative (SBTi) released the world's first science-based framework that could be used by companies to set net zero targets. Companies will increasingly face the heat to not only set net zero targets, but also to move beyond that towards achieving negative emissions. Sustainability leaders such as Microsoft, IKEA, Nestle, Unilever have understood the need to work with their supply chains to reduce the greenhouse gas emissions through firm action and collaboration.19",
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      "text": "There is no denying of the fact that the movement towards alternative fuel solutions is gaining momentum with hydrogen taking the spotlight in the recent years and is expected to accelerate and gain momentum over the next few years. There has been a significant increase in the announced and planned national hydrogen policies over the last 2 years.",
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      "text": "US-China climate cooperation: In a surprise announcement, the world's two biggest polluters pledged to work on \"enhanced climate actions that raise ambition\" and increase their cooperation and speed up action to rein in climate-damaging emissions, signaling a mutual effort on global warming. In the past one year, there has been a huge increase in corporate activity, with the number of net zero commitments getting doubled.18 This will continue in the next few years as the private sector actors seek to address the growing environmental and societal expectations of achieving a net zero economy by 2050. While the consumer goods and technology companies were the flag bearers of corporate decarbonization agenda, the hard-to-abate sectors such as cement, oil and gas have also joined the race to Net Zero. Few of the notable new business arrivals to the Race to Zero include Brambes, Facebook, Ford, General Mills, LafargeHolcim, PVH, etc.18",
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      "text": "These strategies not only focus upon the decarbonization solutions for most applications and end uses, but also on the relative costs and benefits of each solution. The European Commission launched an ambitious hydrogen strategy aiming towards a six-fold increase in capacity to produce green hydrogen by 2024 and use it to decarbonize existing sectors like the chemicals industry. The strategy aims to achieve 40 times increase in capacity by 2030 and expanding other sectors such as steel-making and heavy-duty transport.21 The Government of India also introduced the National Hydrogen Mission to cut down carbon emissions and increase the use of renewable sources of energy while aligning India's efforts with global best practices in technology, policy, and regulation.22",
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      "text": "18-23: Footnotes listing sources for the data and claims presented.",
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