当联合国气候变化框架公约》第三十次缔约方大会（COP30）在巴西贝伦落下帷幕，它所达成的"贝伦 一揽子成果"为全球气候治理注入了新的政治动力。而比纸面承诺更具活力的，是会场内外涌现的"青春 底色"——新生代正从气候议题的旁观者，转变为不可或缺的参与者。 应对气候变化未来需要新生代接棒。过去两周，COP30现场不乏青少年代表的参会身影，他们通过代表 团、教育项目、主题活动等多种形式深度参与气候议题 ，展现了年轻一代的担当。 为确保教育效果，韩阳表示，基金会会委托第三方独立评估，通过心理学量表等科学方法测量项目前后 青少年认知与行为的变化。据第三方报告显示，参与游戏化教育活动的青少年中，超过98%愿意再次参 加，男生的游戏沉迷得分显著降低，女生的自尊水平也有所提升。 尽管在跨文化沟通和多语言版本开发上仍面临挑战，但中国企业在游戏化气候教育领域的探索已初见成 效。在这场关乎未来的气候教育创新中，中国企业正用游戏这一特殊语言，与全球下一代建立连接，为 培育气候行动的"新生代"提供着独具特色的中国方案。 记好"碳账本"，绿色生活能"变现" 除了面向青少年的游戏化教育，本届COP30，中国企业在推动公众参与气候行动方面也 ...

Core Insights - The COP30 conference in Brazil highlighted the release of the "2025 Carbon Inclusive Development White Paper," showcasing the achievements of the company in carbon reduction and global energy transition [1][2] - The white paper outlines China's transition from "Universal Carbon Road" to "All-Domain Carbon Reduction," emphasizing public participation and industry collaboration in global climate governance [1] Group 1: Research Findings - The white paper includes a comprehensive analysis of policy evolution, market dynamics, and technological innovations in the carbon inclusive sector [1] - A survey indicated that over 92.16% of platform users are aware of carbon inclusivity, with more than 90% recommending participation, primarily through green travel, which accounts for approximately 90% of participation [1] Group 2: Collaborative Efforts - The white paper was led by the company and involved contributions from various organizations, including universities and corporations, indicating a broad collaborative effort in the carbon inclusive field [2] - The company’s sustainable development manager noted that the white paper serves as an important reference for government, research institutions, and industry players in navigating carbon inclusive development pathways [2] Group 3: Future Outlook - The company anticipates that advancements in artificial intelligence and deeper societal engagement in carbon reduction will expand the application boundaries of carbon inclusivity, leading to new breakthroughs in diverse scenarios [2]

□ 本报记者 陈月飞 顾敏 11月1日，南京奥体中心，2025江苏省城市足球联赛总决赛在此收官。随着球场灯光关闭、观众尽兴而 归、垃圾清运完成、媒体发出稿件，一场绿色实践也悄然完成——通过低碳办赛和捐赠减碳量，赛事实 现碳中和。 江苏省机关事务管理局负责人将一张由北京绿色交易所鉴证的"碳中和证书"，交到省体育产业集团负责 人的手中时，不仅标志着一次办赛的"零碳"努力完成，也是江苏公共机构碳普惠探索的一次高光亮相。 这背后，是一套从行为量化、数据核查、交易鉴证到价值激励的完整闭环，一场由政府牵头、机构参 与、公众响应的绿色接力悄然走向前台。 碳普惠减碳量如何"中和"一场比赛 办这场"苏超"总决赛要产生多少碳排放？答案可能会让你吃惊：1163.59吨。 这些碳排放从哪里来？从照亮球场的每一盏灯，到场内轰鸣的空调；从四面八方赶来观赛球迷的交通工 具，到球员住宿酒店消耗的能源资源；甚至连啦啦队的加油棒、媒体的摄像机，都在产生温室气体。 早在赛前一个月，省机关事务管理局就致函赛事组委会，建议通过共同努力达成赛事碳中和。想要实 现"零碳"，第一步是尽可能减少排放。"苏超"总决赛为此采取简化现场布置、倡导绿色出行等举措，但 ...

Core Insights - The photovoltaic poverty alleviation power stations in Hubei Province are becoming a significant source of green wealth, contributing to both financial returns and carbon reduction benefits [1][2] - The first carbon benefit methodology tailored for photovoltaic poverty alleviation projects in Hubei has been successfully reviewed, providing a framework for calculating carbon reduction and enhancing the economic viability of these projects [1] Group 1: Photovoltaic Power Stations - The Songjialiangzi Village photovoltaic power station has been operational since 2017, generating over 220,000 kWh annually [2] - The station reduces over 100 tons of carbon emissions each year, generating an additional income of over 2,000 yuan based on current carbon market conditions [2] Group 2: Carbon Benefit Methodology - The newly approved carbon benefit methodology outlines the applicable subjects, application processes, revenue distribution, and carbon reduction calculation methods [1] - This methodology aims to provide a scientific basis for calculating carbon reduction from photovoltaic poverty alleviation stations, facilitating the monetization of green electricity and establishing a sustainable income mechanism for poverty alleviation assets [1]

Core Points - China Pacific Insurance (CPIC) has contributed to achieving "zero carbon" at the 8th China International Import Expo (CIIE) by purchasing and donating approximately 8,000 acres of forest land and 640,000 trees as carbon credits [1][3] - The CIIE has implemented measures to reduce plastic waste, including banning single-use non-biodegradable items since the 4th expo, showcasing China's commitment to green development [3] Group 1 - CPIC's actions include the purchase and donation of forestry carbon credits from Daxing'anling, which are used to offset the carbon emissions related to the expo [3] - The initiative aims to create a positive cycle of "ecological protection - revenue feedback - continuous investment," providing a "CPIC solution" for realizing the value of ecological products [3] - The project also seeks to activate dormant forest resources as green capital for rural revitalization, demonstrating the insurance sector's role in ecological protection and low-carbon practices [3]

Core Viewpoint - The implementation of the "Beijing Carbon Inclusive Management Measures (Trial)" aims to promote the carbon inclusive mechanism from pilot exploration to standardized and in-depth development, enabling citizens to earn tangible benefits from adopting green lifestyles [1][2]. Group 1: Carbon Inclusive Mechanism - The carbon inclusive mechanism quantifies voluntary carbon reduction behaviors of individuals, families, communities, and small enterprises, assigning them specific value [2]. - The "Low Carbon Travel" project has attracted over 5.7 million participants, resulting in a cumulative carbon reduction of over 460,000 tons, establishing a collaborative framework involving government guidance, market operation, and public participation [2][4]. - The management measures clarify requirements and standards for the construction, operation, and management of the carbon inclusive system, enhancing the incentive mechanism and strengthening supervision [2][5]. Group 2: Participation and Incentives - Companies like Gaode Software, Baidu, and Juhang Technology are involved in the "Low Carbon Travel" project, providing material incentives such as coupons and donations to participants based on verified carbon reduction [3][4]. - A survey indicates that 80% of users were encouraged to switch to green low-carbon travel due to carbon inclusive activities [4]. Group 3: Management and Regulation - The management measures establish a "graded and classified" management system, categorizing carbon inclusive projects into Class One and Class Two, with stricter controls for Class One projects [5][6]. - The measures create an incentive and constraint system to encourage voluntary participation in carbon reduction activities, ensuring that the value of reduction behaviors benefits the public [6][7]. - A rigid funding allocation mechanism is established, requiring project developers to submit implementation plans and ensuring that proceeds from carbon reduction sales are used to benefit participants [6][7].

Core Points - The first Jiangsu Province Urban Football League ("Su Super") finals successfully achieved carbon neutrality through green event management and carbon reduction donations [1][2] - The event generated a total of 1163.59 tons of greenhouse gas emissions, which were verified by a third-party team from Suzhou Metrology Testing Institute [1][2] Group 1: Event Management and Carbon Neutrality - The Jiangsu Provincial Government suggested using public institution carbon reduction donations to offset emissions from the finals [1] - The organizing committee implemented measures such as encouraging public transport use and simplifying event decorations to reduce carbon emissions [1] - The carbon neutrality verification process involved auditing event data, methodologies, and carbon emission factors [2] Group 2: Carbon Reduction Contributions - The carbon neutrality certificate was presented to the Jiangsu Sports Industry Group, with a total of 1163.59 tons of carbon reduction donated [2] - The majority of the carbon reduction came from donations by public institutions, particularly from Taizhou, which contributed 1162.80 tons [2] - Personal contributions included 0.79 tons of carbon reduction, with a notable donation from a student who participated through walking and public transport [3] Group 3: Future Initiatives - Jiangsu plans to launch a public institution carbon reduction initiative in 2024, aiming to enhance social impact and encourage broader participation in carbon reduction activities [3]

Core Insights - The Suzhou Carbon Inclusive Service Platform aims to facilitate carbon neutrality by providing comprehensive services to businesses, particularly in industrial parks, to manage and reduce carbon emissions [3][4][6] Group 1: Platform Development and Objectives - The Suzhou Carbon Inclusive Digital Service Platform, led by State Grid Suzhou Power Supply Company, focuses on developing methodologies, emission reduction scenarios, and trading mechanisms for voluntary carbon reductions [3][4] - The platform was initiated to address the high carbon emission density in Suzhou and to support small and medium-sized enterprises (SMEs) in their transition to low-carbon operations [4][5] - As of 2022, the platform has served nearly 500 enterprises, issuing 350,000 tons of carbon reduction credits and completing transactions of 140,000 tons [4] Group 2: Business Participation and Benefits - Companies like BorgWarner have set ambitious carbon neutrality goals and have actively participated in the carbon market through the Suzhou platform, achieving significant reductions in carbon intensity [4][5] - The platform offers a cost-effective and traceable data chain for carbon accounting, which is essential for companies aiming for zero-carbon operations [5][6] - The integration of carbon management services with traditional electricity services enhances the appeal for businesses to engage in carbon trading and reduction efforts [6][7] Group 3: Market Dynamics and Mechanisms - The Suzhou Carbon Inclusive system focuses on small and medium-sized emission reduction projects, which are often overlooked in larger carbon trading markets [8][9] - The platform's structure allows for independent management, operation, and technical support, ensuring compliance with international standards and facilitating cross-regional cooperation [10][11] - The system has attracted participation from various provinces and cities, indicating a growing interest in collaborative carbon reduction efforts [11] Group 4: Future Development and Incentives - Long-term sustainability of the platform requires the establishment of effective incentive mechanisms to ensure that participating companies can realize quantifiable economic benefits from carbon reduction projects [12] - Recommendations include enhancing policy support, promoting green consumption, and expanding the geographical reach of the carbon inclusive model to other regions with carbon service needs [12]

Core Viewpoint - The establishment of the Suzhou Carbon Inclusive System has provided innovative solutions for small and medium-sized enterprises to participate in the carbon market, contributing to global climate governance and carbon neutrality efforts [1][2]. Group 1: Carbon Market Development - The Suzhou Carbon Inclusive System has served nearly 500 enterprises over two years, issuing 350,000 tons of carbon reduction credits, equivalent to planting 2.3 million trees, and completing transactions of 140,000 tons, equivalent to planting 900,000 trees [1]. - The system is a significant supplement to China's multi-layered carbon market, quantifying low-carbon behaviors of individuals and enterprises into tradable carbon assets [1][2]. - The National Grid Corporation has actively promoted the carbon inclusive market, creating a full-chain service model that includes verification, reduction, trading, certification, and finance, covering six major reduction scenarios [2]. Group 2: Cross-Regional Cooperation and Technology - The Suzhou platform has facilitated cross-provincial cooperation, with entities from Zhejiang, Anhui, Shandong, and Sichuan participating, utilizing blockchain technology to ensure traceability of carbon assets throughout the process [2]. - In July, the Liaocheng Transportation Group completed its first cross-provincial transaction through the Suzhou platform, quantifying low-carbon behaviors into 904 tons of carbon assets, with 200 tons sold at a price of 20 yuan per ton, generating a revenue of 4,000 yuan [2]. Group 3: International Recognition - The innovative experience of the Suzhou Carbon Inclusive System has been included in the United Nations Global Compact's 25th Anniversary Case Library, highlighting its role in bridging the gap between carbon reduction supply and demand [3].

1. Report Industry Investment Rating No relevant information provided. 2. Core Views of the Report - The carbon market construction has entered an expansion and development period. In March 2025, the steel, cement, and aluminum smelting industries were included in the national carbon market, and in May 2025, four specific measures were proposed to strengthen carbon market construction [3]. - As of October 20, 2025, the cumulative trading volume of the national carbon market was 742 million tons, with a turnover of 50.461 billion yuan. Trading volume increases near the annual compliance period, and bulk trading is the main method. Carbon price declined in 2025, and the 2023 - year quota settlement was completed with a significant drop in emission intensity [3]. - Among the pilot carbon markets, Guangdong has the most regulated enterprises and is the most active in terms of trading volume. Except for Tianjin, carbon prices in other pilot areas have declined [3]. - Pilot carbon markets have innovative mechanisms. Hubei established the first provincial "electricity - carbon - finance" linkage market; Beijing refined quota repurchase principles; Chongqing realized the "carbon market - carbon offset - carbon inclusive" linkage mechanism [3][4]. - The Guangzhou Carbon Exchange promotes low - carbon development in the Guangdong - Hong Kong - Macao Greater Bay Area. It has a policy framework of government guidance, market operation, and public participation, develops 5 carbon financial products, tightens the proportion of free carbon quotas, and promotes the construction of the Greater Bay Area carbon market [4]. - The "Qin Carbon Star" in the Hengqin - Macao Cooperation Zone is an innovative product that encourages individuals to participate in low - carbon activities through carbon credits [4]. 3. Summary According to the Table of Contents 3.1 Carbon Market Construction: Entered the Expansion and Development Period - **National Carbon Market Expansion and Policy Issuance**: Since 2024, a series of carbon footprint management policies have been issued, and the national carbon market has expanded to cover steel, cement, and aluminum smelting industries. The government has set goals for the future expansion of the carbon market, aiming to basically cover major industrial emission industries by 2027 and build a complete carbon market by 2030 [6][7]. - **Revisions of Pilot Carbon Market Management Measures**: Starting from May 2024, relevant regulations required pilot areas to improve carbon market management systems. Each pilot area has successively formulated carbon emission and trading management measures [12][13]. - **Development Stages of the Carbon Market**: From 2011 - 2013, China launched carbon emission trading pilot projects; from 2014 - 2019, it established the overall framework of the national carbon market; since 2020, the national unified carbon market has been officially launched, and in March 2025, the market expanded for the first time [15]. 3.2 National + Pilot Carbon Markets: Guangdong is the Most Active - **Trading Volume and Turnover**: As of October 20, 2025, the cumulative trading volume of the national carbon market was 742 million tons, with a turnover of 50.461 billion yuan. Trading volume increases near the annual compliance period, and bulk trading is the main method [26]. - **Carbon Price**: In 2024, the carbon price rose, with an average of 91.82 yuan/ton. In 2025 (from January 1 to October 20), the carbon price declined, with an average of 76.73 yuan/ton [28][29]. - **Achievements**: The 2023 - year quota settlement was completed, and the carbon emission intensity decreased significantly. The carbon market has achieved good emission reduction results [33]. - **Pilot Areas**: In 2024, Guangdong had the most regulated enterprises. Except for Tianjin, carbon prices in other pilot areas declined, and Guangdong was the most active in terms of trading volume [38][40]. 3.3 Carbon Market Innovation Mechanisms: Stimulate Market Vitality - **Hubei's "Electricity - Carbon - Finance" Linkage Market**: In May 2024, relevant parties in Hubei signed a coordinated agreement. The background was that the carbon emissions of regulated enterprises were calculated without deducting the green electricity part. This mechanism allows regulated enterprises to obtain low - interest loans to buy green electricity, reducing compliance costs [47][50]. - **Beijing's Refined Quota Repurchase Principles**: In 2024, Beijing issued relevant management measures to regulate market supply and demand through measures such as quota repurchase, aiming to address carbon price fluctuations and supply - demand imbalances [52][53]. - **Chongqing's "Carbon Market - Carbon Offset - Carbon Inclusive" Linkage Mechanism**: In 2024, Chongqing established the "Carbon - Friendly" voluntary emission reduction system and platform. By May 2025, it had attracted over 3.7 million participants, with more than 30 low - carbon application scenarios for residents and over 208 registered enterprise users [47][56]. 3.4 Guangzhou Carbon Exchange: Promote Low - Carbon Development in the Greater Bay Area - **Development History**: The Guangzhou Carbon Exchange has a long - standing development history, from the initial establishment to the launch of various platforms and business expansions [59]. - **Policy Framework**: It follows a policy framework of government guidance, market operation, and public participation, and has established a multi - industry quota trading system and innovative carbon financial tools [60]. - **Transaction Volume and Carbon Price**: The trading volume and carbon price in the Guangdong carbon market have been affected by factors such as the postponement of compliance time and the expansion of the national carbon market [67][71]. - **Carbon Financial Products**: The Guangzhou Carbon Exchange has developed 5 carbon financial products, with carbon quota repurchase having the highest trading volume and turnover [72][73]. - **Promotion of the Greater Bay Area Carbon Market**: The Guangzhou Carbon Exchange actively promotes the construction of the Greater Bay Area carbon market, conducts cooperation and exchanges with Hong Kong and Macao, and participates in relevant research projects [76][77]. - **Carbon Inclusive Mechanism**: The "Qin Carbon Star" in the Hengqin - Macao Cooperation Zone encourages individuals to participate in low - carbon activities through carbon credits and has attracted the participation of many low - carbon businesses [81][83].