Group 1 - The year marks the 20th anniversary of the "Green Mountains and Clear Water are Gold and Silver Mountains" concept and the 5th anniversary of the "dual carbon" goals [1][5] - Since the launch of China's carbon market in 2021, it has contributed to a 4% increase in global carbon pricing coverage, which now stands at 28% of global carbon emissions [1][2] - The national carbon emissions trading market has expanded to include cement, steel, and aluminum industries, adding approximately 1,500 key emission units, which will cover over 60% of national CO2 emissions [1][2] Group 2 - The establishment of both mandatory and voluntary carbon markets creates a "dual drive" for the world's largest carbon market, with the voluntary market being cross-border and based on corporate autonomy [2] - There is significant potential in the voluntary carbon market, especially for companies aiming for carbon neutrality by 2030, with demand expected to grow from various sectors including automotive [2][3] - The need for carbon reduction must be matched by an increase in carbon credit supply, focusing on project viability, technological impact, and biodiversity [2] Group 3 - By 2060, approximately 1.8 billion tons of CO2 will need to be neutralized through carbon capture, utilization, and storage (CCUS) technologies [3] - Financial resources are increasingly directed towards green projects, including innovative initiatives like "fishing and solar power integration" [3] - As of the end of Q2 2025, the balance of green loans reached 42.39 trillion yuan, reflecting a 14.4% increase from the beginning of the year [3] Group 4 - The scope of green finance is expanding, with the new 2025 version of the "Green Finance Support Project Directory" including 271 categories, supporting both pure green projects and traditional projects needing transformation [4] - The voluntary carbon market has seen a cumulative transaction volume of nearly 2.4 million tons and a transaction value exceeding 200 million yuan as of July 28 [5] - The establishment of the National Green Technology Trading Center aims to promote green technology and accelerate its implementation [5]

Group 1 - The national carbon market closed at 72.43 yuan/ton on August 1, down 0.07% from the previous day, with a 3.39% decline from the end of June [1] - In July, the national carbon market saw a total trading volume of 11.6642 million tons, a decrease of 26.57% month-on-month, ending a four-month growth trend [1] - The average daily trading volume in July was 510,300 tons, down 35.75% from June's 794,200 tons [1] Group 2 - The Fudan Carbon Price Index forecasts a buying price of 71.25 yuan/ton and a selling price of 76.04 yuan/ton for carbon emission allowances (CEA) by August 2025 [2] - As of July, the national carbon market has cumulatively traded 6.811 billion tons, with a total transaction value of 46.823 billion yuan [2] - The carbon trading management regulations will take effect on May 1, 2024, marking a significant step in the development of the carbon market [2] Group 3 - The chairman of Shanghai Environment Energy Exchange stated that efforts will continue to enhance the mechanisms of the national carbon trading market [3]

Group 1 - The Beijing Carbon Market has achieved a cumulative trading volume of over 110 million tons and a trading value of nearly 4.7 billion yuan [1][2] - The Beijing Environment Exchange was established in 2008 and was renamed Beijing Green Exchange in 2020, focusing on various environmental rights trading services [1] - The carbon emission trading market in Beijing has been operational for 11 compliance cycles, with the average online transaction price of carbon emission allowances rising from around 50 yuan per ton to 111 yuan per ton by 2024 [2] Group 2 - The market includes approximately 900 key carbon emission units, managing a total carbon emission volume of about 45 million tons, covering industries such as electricity, cement manufacturing, and public transportation [1] - The Beijing Green Exchange has developed a national voluntary greenhouse gas emission reduction registration and trading system, facilitating over 2,000 units to complete trading system registration, with a cumulative trading volume exceeding 2.4 million tons and a trading value exceeding 200 million yuan [2]

面向未来，北京绿色交易所确立"一主五专两化"发展策略。将坚守全国温室气体自愿减排交易主业，落 实生态环境部各类管理要求，持续支撑市场稳定高效运行；同时拓展北京地方碳市场交易服务、企业绿 色低碳发展服务、绿色技术交易服务、ESG综合服务、绿色债券发行与交易服务等五类绿色交易专业服 务。 王乃祥介绍，2023年，北京绿色交易所获得生态环境部授权，作为全国温室气体自愿减排交易系统的运 行和管理机构，提供核证自愿减排量的集中统一交易与结算服务。今年2月，国家发改委批复同意以北 京绿色交易所为主体设立国家绿色技术交易中心。 中证报中证网讯(记者刘丽靓)北京绿色交易所8月1日消息，日前，北京绿色交易所董事长王乃祥在北京 绿色交易所2025年参与人大会上表示，截至2025年7月28日，全国温室气体自愿减排交易市场累计成交 量接近240万吨，累计成交金额超过2亿元，市场规模稳步攀升。 ...

Group 1 - The core viewpoint of the news is the significant progress made in China's voluntary carbon market, with a total trading volume nearing 2.4 million tons and a transaction value exceeding 200 million yuan as of July 28 [1] - The establishment of the National Green Technology Trading Center under the Beijing Green Exchange has been officially approved by the National Development and Reform Commission, aiming to promote green technology and accelerate its transformation [1][3] - The Beijing Green Exchange is focusing on addressing challenges in green technology trading and is conducting foundational research on business models, evaluation standards, and the establishment of a technology broker system [3] Group 2 - The Beijing Green Exchange aims to maintain its primary role in voluntary greenhouse gas reduction trading while supporting the stable and efficient operation of the market [4] - Future services will include five categories: local carbon market trading, corporate green low-carbon development services, green technology trading services, ESG comprehensive services, and green bond issuance and trading [4] - The exchange is committed to enhancing internationalization and high-energy development to better support the dual carbon industry [4]

在服务层面，交易所为参与人提供"双碳"咨询、能力建设、宣传推介、碳中和认证等多元化服务，精准 对接市场需求，旨在形成多方共赢的绿色交易生态。 面向未来，北京绿色交易所确立"一主五专两化"发展策略。王乃祥介绍，将坚守全国温室气体自愿减排 交易主业，落实生态环境部各类管理要求，持续支撑市场稳定高效运行；同时拓展北京地方碳市场交易 服务、企业绿色低碳发展服务、绿色技术交易服务、ESG综合服务、绿色债券发行与交易服务等五类绿 色交易专业服务。 在推动国际化、高能化发展方面，交易所将提升服务"双碳"产业的带动与塑造能力，以建设"面向全球 的国家级绿色交易所"为目标，坚持服务监管、服务市场的根本导向，逐步发展成为全球规模最大的自 愿减排交易市场，以及具有国内引领性、国际影响力、全面开放的市场化绿色技术交易综合性服务平 台。 21世纪经济报道记者卢陶然 李德尚玉 北京报道 "截至2025年7月28日，全国温室气体自愿减排交易市场累计成交量2398985吨，累计成交额 202546331.67元。市场规模稳步攀升。"7月29日，在北京绿色交易所2025年参与人大会上，北京绿色交 易所董事长王乃祥表示。 王乃祥介绍，2023年 ...

Core Viewpoint - The successful hosting of the 2025 Participant Conference by the Beijing Green Exchange marks a significant step in promoting green low-carbon development and supporting national carbon peak and carbon neutrality goals [1][35]. Group 1: Conference Overview - The conference attracted over 200 representatives from various sectors involved in the voluntary carbon market [1]. - The event featured speeches from key figures, including the chairman of the Beijing Green Exchange, who emphasized the importance of diverse services in promoting green development [3][10]. Group 2: Key Presentations - The chairman of the Beijing Green Exchange reviewed the company's development history and introduced the national greenhouse gas voluntary emission reduction trading and national green technology trading platforms [3]. - The general manager of the exchange outlined the achievements and future directions of the exchange, highlighting the potential of the voluntary carbon market and the evolution of global climate governance [8][10]. Group 3: Roundtable Discussions - The first roundtable discussion focused on the opportunities and challenges in the voluntary carbon market, with participants sharing their experiences and suggestions for innovative development [21][23]. - The second roundtable addressed the role of green finance in supporting green industry development, sharing practical experiences and innovative measures [22][26]. Group 4: Awards and Recognition - The conference recognized 18 units for their outstanding contributions, awarding categories such as Best Trading Award, Best Cooperation Award, Green Finance Award, Best Service Award, and Special Contribution Award [27][35]. - The awards were presented by key figures from the Beijing Green Exchange, reinforcing the importance of collaboration in achieving green goals [29][32][34]. Group 5: Carbon Neutrality Initiatives - The conference utilized a digital platform developed in collaboration with the Green Exchange to quantify carbon emissions and reductions, aiming for carbon neutrality post-event [24].

Core Insights - The Fudan University Sustainable Development Research Center released the carbon price index for August 2025, including national carbon emission allowance (CEA) prices, CCER prices, and GEC prices [1][2]. Carbon Emission Allowance (CEA) Prices - The expected buy price for the CEA in August 2025 is 71.25 CNY/ton, with a sell price of 76.04 CNY/ton, resulting in a midpoint price of 73.65 CNY/ton. The buy price index increased by 0.83% to 178.13, while the sell price index decreased by 0.82% to 171.57 [2][3]. - For December 2025, the expected buy price is 72.04 CNY/ton, sell price is 79.61 CNY/ton, and midpoint price is 75.82 CNY/ton. The buy price index is 134.78, and the sell price index is 136.65 [2][3]. Certified Emission Reduction (CCER) Prices - The expected buy price for CCER in August 2025 is 76.25 CNY/ton, with a sell price of 83.59 CNY/ton, leading to a midpoint price of 79.91 CNY/ton. The buy price index rose by 2.49% to 191.68, and the sell price index increased by 3.45% to 201.08 [2][3]. Green Electricity Certificate (GEC) Prices - The expected prices for GECs in August 2025 show a divergence in trends. For 2024 production, centralized project GECs are priced at 3.50 CNY/unit, distributed project GECs at 3.36 CNY/unit, and biomass power generation GECs at 3.66 CNY/unit. For 2025 production, prices are 7.82 CNY/unit for centralized projects, 6.94 CNY/unit for distributed projects, and 6.77 CNY/unit for biomass [4][5]. Market Trends - In July, the average closing price for CEA was 73.64 CNY/ton, up approximately 3% from June's average of 71.51 CNY/ton. However, the trading volume decreased by 35.75% to an average of 51.03 million tons compared to June [6]. - The global carbon market showed mixed trends, with the EU carbon market's average price rising slightly, while the UK market saw a significant drop in trading volume [9].

Core Insights - The event "Carbon Future, Green Movement" organized by China Carbon Trading Center (中碳登) showcased the development vitality of the carbon market, attracting representatives from various sectors including communities, schools, environmental organizations, and enterprises [1][2] - The exhibition highlighted the importance of the national carbon market and its market-driven mechanisms to guide enterprises in emission reduction, emphasizing the role of China Carbon Trading Center as a "carbon asset brain" and "carbon trading hub" [1][2] Group 1 - The event featured interactive exhibits that allowed visitors to understand the carbon trading market mechanisms, including a simulation system where participants acted as "carbon asset managers" [2] - The exhibition displayed innovative low-carbon technologies such as carbon capture and utilization, and waste resource utilization, which generated significant interest among attendees [2] - The introduction of a carbon points system in Wuhan encourages citizens to engage in low-carbon behaviors, integrating carbon reduction into daily life [1] Group 2 - The event aimed to deepen public understanding of the national "dual carbon" strategy and foster community involvement in achieving green and low-carbon development [2] - Future plans include the continuous development of "dual carbon" educational practice bases and broader public participation platforms to support national carbon goals [2]

Policy Insights - China and the EU reaffirmed their commitment to strengthen cooperation on climate change, emphasizing the importance of the Paris Agreement and the principle of "common but differentiated responsibilities" [4] - The joint statement outlines seven cooperation directions, including the implementation of climate agreement goals, support for the 2025 COP30 conference, and acceleration of renewable energy deployment [4] Local Developments - Three major provinces in China (Zhejiang, Henan, Guangdong) are piloting the issuance of green certificates for distributed renewable energy projects, aiming to establish a framework for nationwide implementation [5] - The pilot program focuses on project registration, measurement management, and data collection, which are crucial for enhancing the green value of renewable energy enterprises [5] Industry Practices - The national carbon market in China has been operational for four years, with a cumulative trading volume exceeding 670 million tons and a transaction value of 46 billion yuan, indicating a healthy and orderly market development [7] - The market is set to expand in 2025 to include high-carbon industries such as steel, cement, and aluminum, which are also affected by the EU's carbon border adjustment mechanism [7][8] - Companies are urged to enhance green electricity applications and conduct comprehensive carbon footprint assessments to improve competitiveness in response to international trade rules [8]