Do not use underlining for emphasis because underlined words on web pages are generally considered to be links.
Underlining text makes it look clickable, but nothing happens when the user clicks it.
References
- Avoid using underlines - Pink Sheep Media
- Usability testing of several health information Web sites - Bailey, R.W., Koyani, S., & Nall, J. (2000, September 7). National Cancer Institute Technical Report. Bethesda, MD.