德国2025年碳排放交易收入超过214亿欧元，创下历史新高。这笔资金将全部用于气候与转型基金，支 持能源转型。自2008年启动碳排放交易以来，德国相关收入累计已超1000亿欧元。同期温室气体减排速 度正在放缓。研究显示，德国2025年排放量为6.4亿吨二氧化碳当量，虽比1990年下降49%，但同比降 幅仅为1.5%。 ...

新浪财经ESG评级中心提供包括资讯、报告、培训、咨询等在内的14项ESG服务，助力上市 公司传播ESG理念，提升ESG可持续发展表现。点击查看【 ESG评级中心服务手册】 中国生态环境部副部长李高12月5日在北京表示，按计划，到2027年，全国碳排放权交易市场基本覆盖 工业领域的主要排放行业，全国温室气体自愿减排交易市场实现重点领域全覆盖。对于排放总量相对稳 定的行业，要优先实施配额总量控制，稳妥推进免费、有偿相结合的碳排放配额分配方式。 碳市场是中国利用市场机制积极应对气候变化，加快经济社会发展全面绿色转型的重要政策工具。在 2021年7月、2024年1月，先后启动了全国碳排放权交易市场和全国温室气体自愿减排交易市场的运行。 李高5日在国务院新闻办公室举行的交流会上指出，经过四年多的建设发展，现在全国碳市场的建设已 经进入快速发展新阶段，已经成为中国推进碳达峰碳中和的重要机制，也成为中国碳定价的主要方式。 "现在全国碳市场多层级的制度体系已经基本建成。"李高说，今年3月，经国务院批准，全国碳排放权 交易市场首次扩大行业覆盖范围，现在覆盖发电、钢铁、水泥、铝冶炼四个行业，纳入3500余家重点排 放单位，实现了 ...

Core Insights - The national carbon market's comprehensive price on November 28 was 59.65 yuan/ton, reflecting a decrease of 0.93% from the previous day [1][3] - The total transaction volume for carbon emission allowances today was 2,183,525 tons, with a total transaction value of approximately 131.1 million yuan [1][6] - Cumulative transaction volume from January 1 to November 28, 2025, reached 187,414,557 tons, with a total value of approximately 11.54 billion yuan [7][11] - As of November 28, 2025, the cumulative transaction volume in the national carbon market was 817,683,221 tons, with a total value of approximately 54.58 billion yuan [8][11] Daily Trading Summary - Today's opening price was 60.11 yuan/ton, with a highest price of 60.11 yuan/ton and a lowest price of 58.80 yuan/ton [1][3] - The trading volume for the day included 684,373 tons in the listed agreement trading and 1,499,152 tons in bulk agreement trading [1][5] - There were no single-direction auctions conducted today [1][5] Weekly Overview - The weekly comprehensive price range was between 65.42 yuan/ton (highest) and 58.80 yuan/ton (lowest), with a closing price drop of 8.61% compared to the previous Friday [4][10] - The total weekly transaction volume was 10,048,199 tons, with a total transaction value of approximately 585.29 million yuan [6][11] Monthly Performance - The monthly comprehensive price range recorded a highest price of 70.14 yuan/ton and a lowest price of 51.54 yuan/ton, with a closing price increase of 14.80% compared to the last trading day of the previous month [11][12] - The total monthly transaction volume was 47,753,225 tons, with a total transaction value of approximately 2.76 billion yuan [11][12]

Group 1 - The national carbon emissions trading market has completed its institutional framework and is now in a stable and effective operational phase, marking a new stage in its development [1][4] - As of October 28, 2025, the cumulative trading volume of carbon emission allowances reached 760 million tons, with a total transaction value of 51.44 billion yuan, indicating the gradual effectiveness of the price "guiding role" [2] - The inclusion of key emission units, approximately 1,500 new entities, will enable effective control over more than 60% of the national carbon emissions [2] Group 2 - The voluntary greenhouse gas reduction trading market has been actively promoting trading since its launch in January last year, enhancing the participation capacity and low-carbon reduction awareness among market entities [6] - The upcoming 30th United Nations Climate Change Conference aims to achieve positive outcomes, emphasizing the necessity of collective climate action and international cooperation [7] - China will adhere to the principles of the UN Framework Convention on Climate Change and the Paris Agreement, advocating for developed countries to fulfill their climate obligations while balancing negotiations on mitigation, adaptation, funding, technology, and capacity building [9]

Group 1 - The national carbon emissions trading market in China has established a basic framework over the past four years, with stable and effective market operations, marking a new phase in its development [1][3] - As of October 28, 2025, a total of 760 million tons of carbon emission allowances have been traded, generating a transaction value of 51.44 billion yuan, indicating the gradual emergence of a price "guiding role" [1] - The steel, cement, and aluminum smelting industries are continuously being integrated into the national carbon emissions trading market, with approximately 1,500 new key emission units added, which will effectively manage over 60% of the national carbon emissions [1] Group 2 - The voluntary greenhouse gas emission reduction trading market in China has been operational since January of last year, with active trading of reduction volumes, demonstrating the market's role in incentivizing low-cost greenhouse gas reduction actions across various industries [5] - The capacity of market participants and awareness of low-carbon reduction have significantly improved, reflecting the effectiveness of the market mechanism [5] Group 3 - China aims to promote positive outcomes at the upcoming 30th United Nations Climate Change Conference, emphasizing that no country can remain isolated in the face of the climate crisis [6][7] - The country will adhere to the framework of the United Nations Framework Convention on Climate Change and the Paris Agreement, advocating for the principle of "common but differentiated responsibilities" [9] - China calls for developed countries to fulfill their obligations regarding climate change while balancing negotiations on mitigation, adaptation, funding, technology, and capacity building [9]

Core Viewpoint - The recent fluctuations in the national carbon emissions trading market are normal and influenced by multiple factors, including supply and demand, market expectations, and trading behavior [3] Group 1: Carbon Market Developments - The Ministry of Ecology and Environment plans to expand the coverage of the carbon market, prioritizing total quota control in stable carbon emission industries by 2027 [4] - The inclusion of the steel, cement, and aluminum industries in the carbon market aims to enhance emission reduction responsibilities and support national greenhouse gas emission control goals [4][5] - The carbon market has already reduced overall emission reduction costs by approximately 35 billion RMB during the first two compliance periods, with further reductions expected as more industries participate [5][6] Group 2: CCER Market Progress - As of October 28, the voluntary greenhouse gas reduction trading market has registered 31 projects and achieved a cumulative transaction volume of 3.25 million tons of CCER, with a transaction value of 27 million RMB [7] - The CCER market is expanding its support to various projects, including afforestation carbon sinks and offshore wind power, with ongoing efforts to develop new methodologies [8] - Future efforts will focus on expanding market support areas, improving data quality supervision, and enhancing international cooperation to increase the carbon market's global influence [8]

Core Insights - The national carbon emissions trading market in China has seen a cumulative trading volume of nearly 700 million tons and a transaction value of approximately 48 billion yuan as of the end of August 2024, marking a record high since the market's launch in 2021 [1] - The market's trading activity is increasing, with a daily average trading volume of carbon emission allowances rising by 43.55% compared to the previous compliance cycle, resulting in a total trading volume of 18.9 million tons and a transaction value of 18.114 billion yuan for the year 2024 [1] - The carbon intensity of electricity generation in China has decreased by 10.8% compared to 2018 levels [1] Market Developments - In March 2024, the steel, cement, and aluminum smelting industries were included in the national carbon emissions trading market, leading to the addition of over 1,300 new key emission units, which now account for over 60% of the total carbon dioxide emissions in the country [1] - The voluntary greenhouse gas reduction trading market has been introduced as a significant policy tool to achieve China's "dual carbon" goals, with the first batch of newly registered certified voluntary emission reductions starting trading in March 2024 [1] - As of the end of August 2024, the voluntary trading market has recorded a cumulative trading volume of 2.7061 million tons and a transaction value of 22.9 million yuan, with transaction prices exceeding 100 yuan per ton multiple times [1]

Core Insights - The national carbon emissions trading market in China has seen a cumulative trading volume of nearly 700 million tons and a transaction value of approximately 48 billion yuan as of the end of August 2023, with 2024 expected to set a new annual record since the market's launch in 2021 [1][1][1] Market Performance - In 2024, the carbon emissions trading market operated for 242 trading days, with an average daily trading volume of carbon emission allowances increasing by 43.55% compared to the previous compliance cycle, resulting in a total trading volume of 18.9 million tons and a transaction value of 18.114 billion yuan [1][1][1] - The carbon emissions intensity of the national power sector decreased by 10.8% compared to 2018 [1][1][1] Industry Inclusion - As of March 2023, the steel, cement, and aluminum smelting industries were included in the national carbon emissions trading market, leading to over 1,300 new key emission units being added, which now account for over 60% of the total carbon dioxide emissions in the country [1][1][1] Voluntary Emission Reduction Market - The national voluntary greenhouse gas emission reduction trading market has been introduced as a significant policy tool to achieve the "dual carbon" goals, with the first batch of newly registered certified voluntary emission reductions starting trading in March 2023 [1][1][1] - As of the end of August 2023, the voluntary trading market has recorded a cumulative trading volume of 2.7061 million tons and a transaction value of 229 million yuan, with transaction prices exceeding 100 yuan per ton multiple times [1][1][1]

Group 1 - The national carbon emissions trading market in China has achieved a cumulative trading volume of nearly 700 million tons and a transaction value of approximately 48 billion RMB as of the end of August 2023, with the 2024 annual transaction value reaching a new high since the market's launch in 2021 [1] - In 2024, the carbon emissions trading market operated for 242 trading days, with an average daily trading volume of carbon emission allowances increasing by 43.55% compared to the previous compliance cycle, resulting in a total trading volume of 18.9 million tons and a total transaction value of 18.114 billion RMB, marking the highest level since the market's inception [1] - The carbon emissions intensity in the power sector decreased by 10.8% in 2024 compared to 2018, with the carbon market playing a significant role in this reduction [1] Group 2 - The national voluntary greenhouse gas emission reduction trading market has been introduced as an important policy tool to support the achievement of China's "dual carbon" goals, with the first batch of newly registered certified voluntary emission reductions starting trading in March 2025 [2] - As of the end of August 2023, the cumulative trading volume of the national voluntary greenhouse gas emission reduction trading market reached 2.7061 million tons, with a transaction value of 229 million RMB, and the average transaction price frequently exceeding 100 RMB per ton [2]

Core Insights - The expansion of the national carbon emissions trading market now includes steel, cement, and aluminum smelting industries, increasing the total number of key emission units by over 1,300 and raising the total greenhouse gas emissions by approximately 3 billion tons, covering over 60% of the national carbon emissions [1][2] Group 1: Market Participation and Trading Dynamics - In 2024, the number of key emission units participating in the national carbon emissions trading market reached 1,471, a 1.38% increase from the previous compliance cycle, with trading activity showing an 18% year-on-year increase in transaction volume [2] - The willingness of key emission units to trade has increased significantly, with a 232% year-on-year rise in the total buy and sell orders for listed agreement trading by the end of August 2025 [2] - The number of key emission units selling quotas increased by 11.24% compared to the previous compliance cycle, indicating a gradual improvement in market supply and trading activity [2] Group 2: Trading Products and Price Trends - The national carbon emissions trading market has diversified its trading products, with five categories of carbon emission quotas released for trading, totaling transaction volumes of 287 million tons, 49.19 million tons, 194 million tons, 133 million tons, and 32.27 million tons for the years 2019 to 2024 [2] - In 2024, the total trading volume was 0.37 million tons for listed agreement trading and 1.52 million tons for bulk agreement trading, with the introduction of single-sided bidding trading in July 2025 enhancing market vitality [3] - The average closing price for carbon emissions in 2024 ranged from 69 yuan/ton to 106 yuan/ton, with a closing price of 97.49 yuan/ton at year-end, reflecting a 103.10% increase from the opening price on the first trading day in 2021 [3]