Te pandemic has disrupted the nation’s social and economic life and has had...
2021-03-29 2 ENGLISH REPORTS
Coal is used especially in power generation, meaning it is in competition with lower carbon alternatives in most regions, as well as industrial applications, notably cement and metals. Meanwhile, oil is to a large extent a transport fuel – subject to disruption from batteries, fuel cells and other technologies which seek to replace gasoline, diesel, bunkers and kerosene from different mobility modes. And natural gas has more balanced demand drivers, as well as a lower carbon footprint per unit energy derived, which supports the view that any peak-and-decline in demand may come later than coal and oil.In this report, we are focussed on how technological innovation and energy efficiency can reduce or replace use of fossil fuels, and reduce other sources of emissions, across four major emitting sectors – power generation, transport, buildings and industry.
One core trend which emerges throughout is the importance of electrification. This single transition driver appears repeatedly as a key pathway in replacing fossil fuels, and thus lowering emissions, across land-based transport modes, in buildings and throughout multiple industrial activities. Forests and vegetation absorb carbon from the atmosphere. This leads to a lower total atmospheric level of greenhouse gases. Over the 2010-2016 period, the Amazon alone effectively sequestered 12-13% of the world’s total annual CO2 emissions from human activity (according to the World Resources Institute). Indeed, many companies have started to include forest carbon projects in their decarbonisation plans. Protecting or enhancing forest cover can also bring substantial benefits to biodiversity and conservation efforts (Paradise lost? Why investors must address the biodiversity crisis next, June 2020.
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