National Energy Administration: A total of 2.947 billion green certificates will be issued nationwide by 2025, including 1.893 billion tradable green certificates.

Recently, the National Energy Administration released the "China Green Electricity Certificate Development Report (2025)," which systematically reviews the achievements in the construction of the green certificate system, issuance and trading of green certificates, expansion of application scenarios, and promotion of international mutual recognition by 2025. The report shows that from January to December 2025, a total of 2.947 billion green certificates were issued nationwide, of which 1.893 billion were tradable green certificates. In terms of project types, conventional hydropower, wind power, CECEP Solar Energy, and biomass projects are still the main issuers of green certificates. The five provinces (regions) with the highest number of green certificates issued in 2025 were Yunnan Province, Sichuan Province, Inner Mongolia Autonomous Region, Xinjiang Uygur Autonomous Region, and Hubei Province, with each issuing over 130 million green certificates. These five provinces (regions) are all rich in renewable energy resources, accounting for 45.25% of the total national issuance. The trading volume reached a new historical high. In 2025, a total of 930 million green certificates were traded nationwide, a 1.08 times increase compared to the previous year, with 680 million separately traded green certificates and 250 million green certificates traded in green power transactions. By the end of December 2025, a total of 1.483 billion green certificates had been traded nationwide, with 995 million CHINA GREEN certificates traded separately and 488 million green certificates traded in green power transactions. The convenience of separate green certificate trading continued to improve. In 2025, 620 million green certificates were traded between provinces, accounting for 91.20% of the total separately traded green certificates, effectively facilitating the optimal allocation of green resources nationwide and promoting the coordinated development of energy production provinces and consumption provinces. Within provinces, 59.68 million green certificates were traded separately, accounting for 8.80% of the total separately traded green certificates, mainly serving regions with close supply-demand matching. There was an increase in the willingness of trading entities to participate. In 2025, approximately 111,000 consumer entities participated in green certificate trading nationwide, an 87.52% increase compared to the previous year, with 107,900 corporate buyers and 3,129 individual buyers, with enterprises remaining the main consumers of green certificates. In 2025, the overall trading prices of green certificates in China showed an upward trend. Looking at separate green certificate trading, the average price of electricity green certificates was 0.72 yuan per certificate before 2023, 2.12 yuan per certificate in 2024, and 5.57 yuan per certificate in 2025. The trading prices showed a clear increasing trend, directly related to the high recognition of the environmental value of new green certificates and the strong market demand. Next, China will aim to achieve carbon peaking as scheduled, continuously strengthen the endogenous driving force of green development, accelerate the growth of new energy, focus on promoting the high-quality development of the green certificate market, continue to ensure full coverage of green certificate issuance, accelerate the issuance of green certificates for distributed and off-grid projects, stabilize the supply of green certificates market; improve the promotion mechanism for green energy consumption, strengthen the role of green certificates in renewable energy electricity consumption in key energy-consuming industries; promote the inclusion of green certificates in the carbon emission statistical accounting system, promote the connection between green certificates and carbon emission accounting; accelerate the establishment of a green electricity consumption certification mechanism, promote the acceptance and application of certification results in relevant fields; improve the green certificate standard system, promote the exchange and mutual recognition of green certificates and carbon rules, accelerate the pace of green certificates going global, and make green certificates better serve dual control of carbon emissions, support high-quality development of renewable energy, and guide economic and social green transformation. This article was selected from the WeChat official account of the National Energy Administration. Editor: Feng Qiuyi.