The extent of the impact of environmental policies on energy businesses remains uncertain; the reach and depth of decarbonization is subject to continued political debate. However, prudent strategic planning for business must incorporate the possibility of economy-wide deep decarbonization policies. These policies could become a risk to a company’s current operations and the value of its assets—or can offer an opportunity for new, profitable areas of activity. The implementation of economy-wide decarbonization will require innovation that goes beyond established practices that promote renewable electricity, energy efficiency, and biofuels. Above all, a zero-carbon energy path will have to replicate the energy density, the ease of transport and storage, and flexibility in use that hydrocarbons deliver today. Hydrogen can deliver precisely this functionality.