（实习生丁子恩对本文亦有贡献） 高戈锐曾在澳大利亚驻北京、上海使领馆任职，讲得一口流利的普通话。值得一提的是，此行是他第一 次来到广州。"在乘飞机抵达广州时，我就被广州的城市规模和清新空气所震撼。"高戈锐说。他还对广 州完备的基础设施赞叹不已。 高戈锐向记者表示，气候与脱碳是中澳合作中极为关键的领域，两国都制定了碳排放相关目标。澳大利 亚是中国最大的铁矿石供应商，所以他认为，中澳双方联手降低钢铁生产过程中的碳排放具有特别的意 义。 除了绿色合作，高戈锐特别提到中澳的体育合作，他对第十五届全运会印象深刻，"中国在体育领域成 就斐然，我们也一直派遣澳大利亚青年队前往中国开展交流活动。如今网球在中国的热度极高，中澳在 网球项目上开展了众多训练与赛事交流。"他认为，中澳开展体育合作既能提升两国运动员的竞技水 平，还能更好地促进两国关系。 （原标题：澳中基金会CEO：钢铁行业脱碳是中澳绿色合作核心领域之一） 南方财经21世纪经济报道记者 胡慧茵 广州报道 "澳中基金会一直支持赞助中澳两国学者、经济学家等，与政策制定者开展对话，一起实现净零排放的 目标，这是基金会助力中澳在绿色能源领域合作的一个例子。"澳中基金会首席执行 ...

Core Insights - The article emphasizes the importance of transitioning to a resilient zero-carbon energy system, highlighting that relying solely on clean electricity is insufficient for achieving this goal [1][2][3] Group 1: Renewable Energy Transition - The cost of photovoltaic (PV) power generation has decreased by over 90% in the past decade, making it the most economical power source in most regions [1] - The global energy system is facing a "triple dilemma" of ensuring energy security while balancing energy equity and environmental sustainability [2] - Clean energy is projected to become the largest energy source globally by the mid-2030s under net-zero scenarios, with renewable energy growing at an annual rate of 3% [3] Group 2: Technological Foundations - The vision for a sustainable energy future relies on three technological pillars: PV, energy storage, and hydrogen [4] - Energy storage systems are crucial for providing 24/7 renewable energy supply, with global storage capacity expected to reach 1,100 GWh by 2030 [4] - Green hydrogen is seen as a key solution for deep decarbonization in sectors that are hard to electrify, such as industry and heavy transport [4] Group 3: Strategic Principles - The company proposes six guiding principles for achieving the vision of "Renewable Infinity," including innovation, system integration, and open collaboration [5] - The commitment is to lead the transition to a new energy era that emphasizes sustainability and shared benefits for all [5]

大会还发布了《船用燃料生命周期温室气体强度计算方法》和《船舶年度达到的燃料温室气体强度核验 方法》两项团体标准，将为航运企业低碳转型提供统一量化标尺，也为全球碳治理提供"中国方案"。 11月17日，以"破壁迎变.共促可持续发展"为主题的2025世界航商大会在中国香港开幕。会上，由招商 局工业集团控股企业华商能源科技股份有限公司与上下游产业链联合发起的"国际绿色燃料联盟"(IGFA) 举行成立启动仪式，首批30余家全球产业机构正式合力共建航运脱碳生态圈。 据了解，由于不同国家和地区能源结构、技术水平、政策机制与市场成熟度差异等原因，绿色燃料产业 的发展仍面临着标准不统一、体系不互认、市场机制不完善、产消对接不充分等结构性挑战。国际绿色 燃料联盟的成立有望应对这些挑战。 联盟将依托港澳战略枢纽地位，共同攻坚破解绿色燃料产业"标准不互认、产需不对接、金融工具缺 失"三大瓶颈。下一步，联盟计划搭建绿色燃料产业信息交互平台，研究和辅助绿色燃料产业政策制 定，牵引绿色燃料示范项目协同和创新，参与制定绿色燃料行业标准和规则，促进绿色金融与碳市场创 新联动，助力香港成为国际绿色燃料贸易中心。 《全球航运公司净零路径实践指南》 ...

Core Viewpoint - The global chemical industry faces a dilemma in decarbonization, as trade turmoil and a persistently weak market force companies to cut capital expenditures, while achieving 2030 emission reduction targets and moving towards net-zero emissions by 2050 requires substantial investment [1][2]. Group 1: Current State of Decarbonization - The decarbonization process in the chemical industry is significantly lagging, with absolute emissions increasing by 6% from 2019 to 2023, and emission intensity remaining stable at 1.3 million tons of CO2 equivalent [2]. - The International Energy Agency (IEA) estimates that emission intensity needs to be reduced to 920,000 tons of CO2 equivalent by 2030, and an 85% reduction in annual emissions is required by 2050, alongside a projected 70% growth in industry size [2]. - PwC forecasts that investments related to decarbonization will need to reach between $1.5 trillion and $3.3 trillion by 2050 [2]. Group 2: Investment Challenges - Despite commitments from major companies like BASF and Dow Chemical to invest over $1 billion annually in sustainability, economic downturns are squeezing the space for decarbonization investments [3]. - The American Chemistry Council (ACC) reports that high interest rates, tariff barriers, and geopolitical risks are causing a slowdown in capital expenditure growth, with projections of a 3.9% increase to $39 billion in 2024, followed by a decrease of 1.6% in 2025 [2][3]. Group 3: Project Delays and Policy Issues - Significant projects, such as Dow Chemical's $6.5 billion "Net Zero Pathway" ethylene plant in Alberta, Canada, have been indefinitely stalled due to industry downturns, rising construction costs, and tariff uncertainties [4]. - The cancellation of $3.7 billion in emission reduction funding by the U.S. Department of Energy has exacerbated the situation, affecting key projects in hydrogen and molecular recycling [4]. - BASF has indicated that core decarbonization technologies, such as electric heating cracking furnaces, will not be scalable until after 2030 [4]. Group 4: Emission Accounting Challenges - The lack of stable policies and difficulties in managing Scope 3 emissions (i.e., emissions from the supply chain) are major institutional barriers to decarbonization [5]. - The SEC's 2024 climate disclosure rules do not include Scope 3 emissions, which account for 75% of total industry emissions, leading to potential investment stagnation of $77.5 billion [5]. - The complexity of the value chain and data inaccuracies hinder effective management of Scope 3 emissions, as demonstrated by the limited impact of reducing emissions from 1,000 core suppliers [5]. Group 5: Market Demand Issues - Insufficient market demand poses a significant barrier to the transition towards decarbonization, with companies like BASF noting a lack of demand for green products [6]. - Dow's CEO has acknowledged that while customers recognize low-carbon products, their willingness to pay a "green premium" is limited, especially in a downturn where cost control is prioritized [6]. Group 6: Future Outlook - Despite optimism among major companies regarding the 2030 targets, data reveals a stark reality: since 2020, the top 12 chemical companies have only reduced direct and indirect carbon emissions by 8.7%, with a mere 2.1% reduction in supply chain emissions [7]. - To resolve the decarbonization dilemma, the industry needs a collaborative effort across policy, technology, and market sectors to create a stable incentive mechanism, accelerate technology maturity, and cultivate green demand [7].

Core Viewpoint - Longi Green Energy has released its "2024-2025 Longi Green Energy Climate Action White Paper," outlining its strategic ambition to achieve net-zero emissions across the entire value chain by 2050, aligning with international disclosure frameworks [1][2]. Group 1: Scientific Goals and Emission Reduction Pathways - Longi aims to reduce Scope 1 and Scope 2 emissions by 60% and Scope 3 emissions intensity by 52% by 2030, compared to 2020 levels [2]. - The company has established a detailed reduction pathway consisting of five pillars: operational decarbonization, value chain collaboration, product carbon footprint management, climate solution development, and just transition promotion [2]. - In 2024, Longi's total operational carbon emissions are projected to be 3,184,782 tons of CO2 equivalent, reflecting a 23.8% increase from 2020 but a 37% decrease from the peak in 2023 [2]. Group 2: Energy Efficiency and Renewable Energy Usage - Longi implemented 477 energy-saving projects in 2024, expected to save 426 million kWh of electricity, equivalent to a reduction of 250,000 tons of CO2 [3]. - The company achieved a 10.7% year-on-year decrease in overall electricity consumption per unit, with significant reductions across various manufacturing stages [3]. - In 2024, Longi utilized 4.746 billion kWh of renewable electricity, accounting for 47.5% of total electricity consumption, an increase of 5.7 percentage points from 2020 [3]. Group 3: Supply Chain and Product Carbon Footprint - Scope 3 emissions represent nearly 90% of Longi's total value chain emissions, making it a critical area for achieving net-zero goals [4]. - In 2024, Longi's Scope 3 emissions totaled 2,734,000 tons of CO2 equivalent, with purchased goods and services accounting for 84% of this figure [4]. - Longi launched a "Green Supply Chain Empowerment Program" to encourage 50 suppliers to conduct carbon audits [4]. Group 4: Technological Advancements and Diverse Applications - Longi's monocrystalline silicon cell efficiency reached 27.81%, and the efficiency of the perovskite-silicon tandem cell reached 35%, both setting new world records [4]. - The company is diversifying its applications through BIPV, photovoltaic + agriculture, and photovoltaic + hydrogen projects, demonstrating adaptability in extreme climate conditions [4]. Group 5: Governance and Financial Planning - Longi has established a governance structure centered around its board and sustainability committee, linking climate performance to management compensation [5]. - The company has integrated its climate strategy into its budgeting system and conducted its first ESG dual materiality assessment in 2024, identifying "climate change response" and "energy management" as core financial issues [5]. Group 6: Global Collaboration and Commitment - Longi emphasizes the need for global collaboration in addressing climate change, advocating for open innovation, energy equity, and enhanced global cooperation [6]. - The company is transitioning from a photovoltaic product supplier to a builder and advocate of a zero-carbon energy ecosystem, showcasing its commitment to sustainable development [7].

Core Insights - 95% of countries failed to submit new Nationally Determined Contributions (NDCs 3.0) by the UN's February deadline, but major emitters have set 2035 targets, covering 71% of G20 emissions [1] - G20 countries with targets are expected to increase annual emissions reductions from -0.5% to -0.7% (2023-2030) to -2.6% to -3.5% (2030-2035), achieving an additional 13% to 18% reduction over five years [1] Transformation Risk Analysis - Over 70 countries have submitted or announced new 2035 targets despite geopolitical tensions, including major emitters like China, Russia, and Brazil, while the U.S. has withdrawn [3] - The new 2035 targets align with a global temperature increase forecast of 2.2–2.3°C, slightly better than the 2.4°C forecast under NDCs 2.0, but still above the Paris Agreement goal [3] - The acceleration in global emissions reduction is primarily driven by large emerging economies, with some countries like the UK and Australia committing to faster decarbonization, while others like Canada and Japan show slower rates [3] Physical Risk Analysis - By mid-century, climate physical disasters could put an additional 500 million people and $20 trillion GDP at high risk, with a total of 839 million people and $28.3 trillion GDP facing risks by 2050 [3] - Major cities like Tokyo, New York, and Shanghai will see increased exposure to climate risks, with over 80% of Japan's GDP and population facing typhoons at least once every ten years [3] - By 2050, over 327 million people will face extreme heat conditions, and 670 regions will experience severe water stress, impacting health and economic productivity [3] Implications for Investors - Investors must understand how government emission commitments reshape global growth trajectories and asset valuations, as climate physical risks increasingly challenge markets and economies [6] - The report provides detailed risk mapping and forecasts, translating macro climate models into actionable investment decisions [6] - The unique application of the implied temperature rise (ITR) metric offers a clear benchmark for assessing countries' climate goals against the Paris Agreement [8]

Investment Rating - The report indicates a cautious investment outlook for the energy sector, with potential opportunities arising from expected oil price declines in 2026 [3][13]. Core Insights - Global energy demand is accelerating, particularly in the electricity sector, driven by artificial intelligence and data centers, with trends spreading to Europe and Asia [1][2]. - The International Energy Agency predicts that oil demand may continue to grow for the next 20 years, while natural gas is becoming a key transitional fuel [2]. - Data centers are projected to increase global electricity demand by 1%-3% annually, half of which is driven by artificial intelligence [1][9]. - Fuel cell technology is gaining renewed attention due to its low pollution and high efficiency, particularly for off-grid power solutions for data centers [1][5]. - Serious Power, a company specializing in solid oxide fuel cell technology, is positioned for significant growth through licensing agreements with major manufacturers [1][6]. Summary by Sections Energy Demand and Trends - The 6th Annual Carbon Economy Conference highlighted the rapid growth in global energy demand, especially in electricity, influenced by AI and data centers [2]. - The revival of nuclear energy and the renewable energy revolution are driving new energy storage solutions [2]. Fuel Cell Technology - Fuel cell technology is being reconsidered due to its suitability for urban applications and the long delivery times of gas turbines [5]. - Serious Power's licensing model allows it to avoid manufacturing constraints and focus on growth through partnerships [6][7]. Market Dynamics - Major oil companies face the dual challenge of revitalizing core oil and gas exploration while seizing opportunities in data centers and electronic businesses [11]. - The Inflation Reduction Act continues to support renewable energy development, particularly in Texas, while maintaining incentives for solar, wind, and energy storage [12]. Future Outlook - The energy market is expected to experience significant volatility by 2026, with structural growth opportunities in U.S. natural gas, the grid, and fuel cells [15][16].

Core Insights - The article discusses the 30-year anniversary of Vietnam-U.S. diplomatic relations and highlights five key cooperation directions proposed by Vietnam's Deputy Prime Minister Pham Minh Chinh at the 8th Vietnam-U.S. Business Summit [1][2]. Group 1: Key Cooperation Directions - The five cooperation directions include: 1. Development of the semiconductor and high-tech sectors, including semiconductor ecosystems, research centers, data centers, and artificial intelligence in Vietnam [2]. 2. Collaboration in clean energy and green growth, focusing on offshore wind power, solar energy, hydrogen, energy storage, and smart grids to support Vietnam's goal of achieving net-zero emissions by 2050 [2]. 3. Strategic supply chain cooperation to develop flexible, diverse, and sustainable supply chains, enhancing regional connectivity and smart logistics while reducing transportation costs [2]. 4. Innovation and digital transformation, promoting digital service trade and cross-border electronic payments, and collaboration in artificial intelligence, cybersecurity, and cloud computing [2]. 5. Education, training, and technology transfer, focusing on training technical engineers, semiconductor experts, and global management [2]. Group 2: Economic Relations - The U.S. is Vietnam's first export market exceeding $100 billion and is one of Vietnam's largest trading partners, with major U.S. companies actively investing in Vietnam [2]. - The relationship is characterized by strategic trust, comprehensive cooperation, and mutual development, with both countries complementing each other's strengths [2]. Group 3: Future Expectations - Deputy Prime Minister Pham Minh Chinh expressed hopes for U.S. businesses to advocate for the U.S. government to recognize Vietnam's full market economy status and to lift remaining high-tech export restrictions [3]. - There is a call for U.S. companies to increase long-term investments in Vietnam and to create conditions for Vietnamese enterprises to participate in the global supply chain of U.S. companies [3].

Group 1 - The International Energy Agency (IEA) projects that global oil and gas demand may continue to grow until 2050, with oil demand reaching 113 million barrels per day by 2050, a 13% increase from 2024 levels [1] - Liquefied natural gas (LNG) supply is expected to increase by 50% by 2030 under current policy scenarios [1] - Despite significant investments in decarbonization, there has been no clear evidence of energy transition and emission reduction over the past thirty years, with economic and population growth being the main drivers of increased carbon emissions [1][3] Group 2 - Stephen D. Eule from the National Center for Energy Analysis (NCEA) describes the energy transition as an illusion rather than a quantifiable trend, suggesting that the use of oil and gas will significantly increase alongside the rise of renewable energy and battery technologies [3] - Research indicates that reducing one ton of carbon emissions through a shift to low-carbon energy results in a decrease of 12.4 tons of carbon in economic energy intensity [3] - The carbon emissions per unit of energy consumption in 2024 are only 3% lower than in 1990, making the goal of achieving net-zero emissions by 2050 challenging [3]

Investment Rating - Investment rating: None [4] Core Insights - The report emphasizes the strategic importance of civil nuclear energy in global energy transition and climate governance, highlighting its current contribution of approximately 9% to global electricity and 23% to low-carbon electricity. It notes that nuclear energy has avoided around 70 billion tons of CO2 emissions over the past 50 years and could potentially reduce an additional 90 billion tons by 2050 if development accelerates [4][16] - The International Atomic Energy Agency (IAEA) predicts a 2.5-fold increase in nuclear power capacity by 2050, positioning it as a core support for achieving "net zero emissions" goals. Currently, there are about 440 operational reactors across 31 countries, with over 60 under construction and 30 more planned [4][16] - The report also highlights the potential applications of innovative technologies such as Small Modular Reactors (SMR) and Advanced Modular Reactors (AMR) in hydrogen production, heating, and non-electric sectors, calling for stronger policy and financial support to drive a new growth cycle in the global nuclear energy industry [4][16] Market Performance Review - During the week of November 3 to November 7, 2025, technology stocks experienced a pullback, with the Hang Seng Tech Index closing at 5837.4, down 1.2%, underperforming the Hang Seng Index by 2.5 percentage points. The Philadelphia Semiconductor Index closed at 6947.4, down 3.9%, also underperforming the Nasdaq 100 and S&P 500 indices [7][9] - The AI energy sector saw declines influenced by earnings reports, with the top five gainers being COHERENT (+17%), 亚舍立科技 (+8%), 艾马克技术 (+8%), 美光科技 (+6%), and 百度集团-SW (+6%). Conversely, the top five decliners included NUSCALE POWER (-32%), DUOLINGO (-26%), ENERGY FUELS (-24%), 超微电脑 (-23%), and CENTRUS ENERGY (-20%) [9][4] Web3 and Cryptocurrency Market - The total market capitalization of cryptocurrencies decreased to $3.37 trillion as of November 7, 2025, down from $3.64 trillion the previous week. The total trading volume for cryptocurrencies was $166.74 billion, accounting for 4.95% of the total market cap [18][24] - The sentiment in the cryptocurrency market is currently in a state of panic, with the Fear and Greed Index at 21, indicating a fear-driven market environment [20] - The report notes that the core assets in the cryptocurrency market experienced significant price declines due to tightening liquidity and expectations of interest rate hikes, with major assets briefly falling below $100,000 [29][30]