Group 1 - The Fudan University Sustainable Development Research Center released the carbon price index for January 2026, indicating a buy price expectation of 66.13 CNY/ton and a sell price expectation of 74.14 CNY/ton for national carbon emission allowances (CEA) [1] - The expected buy price for CEA in December 2026 is projected to be 70.32 CNY/ton, with a sell price of 85.36 CNY/ton, reflecting an upward trend in carbon pricing [1] - The buy price index for January 2026 is 165.33, while the sell price index is 167.28, indicating a stable market outlook [1] Group 2 - The research center reported that the price of green certificates for centralized projects, distributed projects, and biomass power generation in 2025 is expected to rise, with centralized project certificates priced at 5.93 CNY/unit, an increase of over 25% [2] - The price index for distributed project green certificates is 113.83, while biomass power generation certificates are priced at 4.6 CNY/unit, showing a significant increase across all categories [2] - The price ranking from highest to lowest remains centralized project certificates, distributed project certificates, and biomass power generation certificates [2] Group 3 - In December, the average closing price of CEA was 61.83 CNY/ton, a notable increase of approximately 3.27% compared to November's average closing price of 59.87 CNY/ton [3] - The trading volume for carbon allowances in December averaged 201.28 million tons, a decrease of 15.7% from November's 238.77 million tons, yet the market remained active with significant trading days [3] - The highest single-day trading volume was recorded on December 23, reaching 357.39 million tons, indicating robust market activity despite the overall decline in average volume [3]

Group 1 - The Fudan University Sustainable Development Research Center released the carbon price index for May 2025, indicating expected buy and sell prices for national carbon emission allowances (CEA) at 78.37 CNY/ton and 82.66 CNY/ton respectively, with a midpoint of 80.52 CNY/ton [1] - The buy price index decreased by 7.70%, the sell price index decreased by 7.32%, and the midpoint price index decreased by 7.51% [1] Group 2 - The research center provided price expectations for green certificates (GEC) for 2024 and 2025, with the price for centralized projects in May 2025 expected to be 5.20 CNY/unit, showing a significant increase compared to previous months [2] - The price for distributed projects in May 2025 is expected to be 4.87 CNY/unit, and for biomass power generation, it is expected to be 4.48 CNY/unit, indicating an overall increase in green certificate prices [2] Group 3 - The National Energy Administration announced the launch of the green certificate cancellation function, enhancing the transparency and regulation of the green power consumption management system [3] - In April, the average closing price of CEA was 82.26 CNY/ton, down 6.42% from March, while the average daily trading volume of carbon allowances increased significantly to 23.31 million tons, nearly doubling from March [3]