Shanghai Achieves 100% Compliance in Carbon Emission Quota Settlement for 12 Consecutive Years, a Unique Achievement Nationwide

On September 24, 2025, the China Carbon Market Conference was held in Shanghai under the theme of "Improving Carbon Pricing Mechanisms to Stimulate New Momentum for Green and Low-Carbon Development." The event attracted participants from over 20 countries and regions as well as various provinces and cities across China, and released the "National Carbon Market Development Report (2025)".

September 24, Shanghai, at the China Carbon Market Conference 2025 event site. Provided by the organizer

The carbon market is a crucial policy tool that leverages market mechanisms to actively address climate change and accelerate the comprehensive green transformation of economic and social development. It also serves as a powerful measure to achieve carbon peak and carbon neutrality.

According to The Paper (www.thepaper.cn), Shanghai's carbon emissions trading market, as one of the seven pilot regions nationwide, has operated smoothly since its launch in 2013. It now covers over 400 enterprises across 28 industries, including steel, petrochemicals, chemicals, automobiles, aviation, and water transport, with a total carbon quota of approximately 100 million tons. Since its inception, the Shanghai carbon market has achieved cumulative spot trading (including auctions) of 265 million tons and total trading volume of 5.544 billion yuan. Additionally, all entities under the jurisdiction of Shanghai's carbon emissions trading market have completed the 2024 annual carbon emission quota settlement, making it the only pilot region in China to achieve 100% compliance for 12 consecutive years.

In the 2024 compliance cycle, the Shanghai carbon market recorded a quota trading volume of 1.7964 million tons and a transaction value of 133 million yuan. Among this, 403 entities were covered under the system, with a total quota of 106 million tons, involving industrial enterprises, transportation companies, data center operators, and various types of buildings.

As of September 2025, Shanghai has conducted 16 rounds of paid competitive bidding for carbon market quotas, with a total paid allocation of 26.68 million tons and a total competitive bidding volume of 10.4571 million tons, resulting in total transaction amounts of 628 million yuan. Leveraging the "electricity-carbon" synergy mechanism, carbon emissions from green electricity usage are counted as zero. Encouraged by this policy, green electricity consumption in Shanghai has exceeded 8 billion kilowatt-hours this year.

In June 2025, the Shanghai Carbon Credit Platform officially launched. As of now, it has attracted over 200,000 residents to open accounts, nearly 500 distributed photovoltaic power generation projects to participate, and issued more than 100,000 tons of carbon emission reductions. In July, the "Shanghai Guidelines for Carbon Neutrality in Large-Scale Events" was officially released.

As the host city of this year's China Carbon Market Conference, Shanghai has fully embraced the principles of green and low-carbon development, making this conference the first large-scale event in Shanghai to achieve carbon neutrality strictly in accordance with these guidelines. Additionally, to further encourage public participation in green practices, the conference will also attain "carbon neutrality" through measures such as citizens donating their personal carbon emission reductions, serving as a concrete example of promoting low-carbon actions across society and innovating carbon neutrality models