A themed event was held in Beijing on Wednesday to mark the 13th National Low-Carbon Day, highlighting the city's thriving carbon market and leadership in green development.

The carbon market serves as a crucial tool in addressing climate change and accelerating a green, low-carbon transformation of the economy.

Beijing began piloting a carbon emissions trading scheme in 2013, putting in place a regulatory framework supported by local laws, government guidelines and technical standards.

At the event, officials noted that major emitters, particularly those with significant carbon output, have achieved substantial reductions.  

Companies in Beijing now receive about 0.06 yuan in compensation from the carbon market for every kilowatt-hour of green electricity consumed, delivering clear economic benefits.

Driven by these incentives, green electricity consumption by key emitters continues to grow. In 2024, over 140 companies participated in green electricity trading, representing nearly 70% of all transactions in the city's carbon market.

Five low-carbon projects from Beijing were named among the nation's outstanding initiatives during the event.