Shanghai reports record-high green electricity trading scale

SHANGHAI, Sept. 7 (Xinhua) -- In the first eight months of this year, Shanghai's green electricity trading scale was 2.5 times the whole-year 2023 scale, hitting a record high, the State Grid Shanghai Municipal Electric Power Company said on Saturday.

During the period, Shanghai completed 161 interprovincial green electricity transactions, helping enterprises purchase nearly 5 billion kilowatt-hours of green electricity and obtain more than 20 million green certificates, both significant increases over 2023.

On June 7 this year, Shanghai released a green electricity consumption accounting list for the first time. The list includes the first batch of green electricity consumption accounting vouchers in China that are truly traceable and rigorously certified. Based on this, the State Grid Shanghai Electric Power Research Institute's urban energy internet research center built an authoritative, credible green electricity consumption certification system with unified domestic standards.

Green electricity refers to electricity with zero or near-zero carbon dioxide emissions during its production process. This is crucial for a company's journey to achieving carbon neutrality, and for the transformation and upgrading of the entire industry. Buyers of green electricity also obtain green certificates.

China has vowed to tackle climate change and follow a steadfast path of green, low-carbon development. It has pledged to peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060.