Core Insights - The total carbon emissions of the top 100 listed companies in China for 2024 are projected to be 5.134 billion tons, a decrease of 2.7 million tons compared to 2023, indicating a potential peak in emissions [1][6][11] - The disclosure rate of carbon emissions among these companies has increased from 43% in 2021 to an expected 80% by 2025, reflecting a growing awareness and commitment to carbon reduction [1][5][23] Group 1: Carbon Emissions Overview - The carbon emissions of the top 100 listed companies in 2024 are 5.134 billion tons, which is a 0.52% decrease from 5.161 billion tons in 2023 [6][11] - The top ten companies account for approximately 38% of the total emissions, highlighting the concentration of emissions among a few major players [2][6] - The threshold for inclusion in the carbon emissions ranking has decreased to 10.3128 million tons in 2024, down from 11.5329 million tons in 2023, indicating a reduction in emissions intensity among leading high-carbon companies [6][11] Group 2: Industry Emission Trends - The power industry remains the largest contributor to carbon emissions, accounting for approximately 2.29 billion tons in 2024, maintaining a significant share of the total emissions [15] - The cement industry follows with emissions of about 770 million tons, continuing a downward trend for four consecutive years [15] - The steel industry has seen a notable decrease in emissions, returning to levels close to those of 2022, with emissions around 580 million tons [15][18] Group 3: Carbon Efficiency Metrics - The average carbon efficiency of the top 100 companies in 2024 is 0.399 million yuan per ton, remaining stable compared to 0.40 million yuan per ton in 2023 [20][21] - The carbon efficiency has improved by 10.83% from 2021 to 2024, indicating a positive trend in decoupling economic output from carbon emissions [20] - Seven industries have shown improvements in carbon efficiency, with the chemical industry achieving the most significant increase, reaching 0.39 million yuan per ton, the highest in three years [20][21] Group 4: Disclosure and Transparency - In 2024, 80 companies disclosed their carbon emissions data, an increase from 65 in 2023, achieving the highest disclosure rate in four years [23] - The disclosure rate for the power industry is 77.42%, while the cement industry leads with 85.71%, consistently above the average [26] - A-share companies have seen a significant rise in disclosure rates, from 16.67% in 2021 to 70.97% in 2024, indicating improved transparency in carbon reporting [26][27]