Beijing Institute of Green Finance and Sustainability & Hillhouse Institute of Innovation and Industry Studies: Towards 2060 Carbon Neutral: Opportunities and Challenges on the Road to Decarbonization

On March 15, the ninth meeting of the Central Financial and Economic Affairs Commission stressed that carbon neutrality should be included in the overall layout of ecological civilization construction.

On March 17, Beijing Institute of Green Finance and Sustainability and Hillhouse Institute of Innovation and Industry Studies jointly issued “towards 2060 carbon neutral – focus on the opportunities and challenges on the road of decarburization” research report, the report demonstrates the implementation of opportunities in 8 key areas related closely to “carbon neutrality”, including power, transportation, industry, new materials, construction, agriculture, negative carbon emissions as well as Information and digitalization.

Opportunities in these areas that investors should look for include:

  • Power:
  1. silicon wafer and cell technology improvement in photovoltaic power generation, perovskite technology of new photovoltaic materials and the technology of photothermal power generation.
  2. In terms of wind power, attentions should be given to the development of high-power turbines and large-size blades of onshore wind power, and to the further cost reduction of the whole industry chain of offshore wind power and the commercialization of floating wind power technology.
  3. Smart grid transformation, microgrid systems and distributed generation that can accommodate large-scale renewable energy
  4. The cost reduction and wide application of energy storage technology
  • Transport: Transport electrification (electric cars, electric trucks, etc.), low-carbon rail transport, urban public transport and low-carbon shared travel, the application of hydrogen and biomass fuels in the transport sector, low-carbon technology innovation in shipping and aviation, etc.
  • Industry: Electrification, greater utilization of scrap steel and electric arc furnace in steel industry, technological progress of hydrogen and biological energy steelmaking, replacement technology of limestone clinker in cement production, etc.
  • New materials: recycling of materials, replacing fossil energy-based materials with bio-based materials, etc.
  • Construction: energy-saving renovation of buildings, zero-carbon buildings, electrification and multi-energy complementary systems, zero-carbon heating and cooling systems, zero-carbonization of building materials, etc.
  • Agriculture: emissions reduction technology of chemical fertilizer and livestock and poultry, plant protein substitution of meat and dairy products, artificial meat, precision agriculture, gene engineering, vertical agriculture, aquaculture, etc.
  • Negative carbon emission: carbon sink cost reduction, carbon capture, storage, and utilization (CCUS), direct air carbon capture (DAC), etc.
  • Information technology and digitalization: smart buildings, smart energy, smart lifestyle and health, smart transportation, smart city, smart agriculture, and smart manufacturing, etc.

Source: CWEA

Click here for the whole report.