【英文】HSBC报告：全球投资策略：2050年实现净零排放的途径（78页）

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.