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Shanghai has seen a surge in the trading volume of green electricity certificate (or green certificate) this year, according to the 2024 Shanghai International Carbon Neutrality Expo.

The green certificate serves as proof of consumption of green energy. Each certificate is uniquely encoded containing details of the source and amount of green electricity used.

As of early June, Shanghai's green certificate trading volume has exceeded 15 million this year, a substantial increase from 460,000 last year. 

During the expo, which ran from June 5 to 8, Shanghai also unveiled the Green Electricity Consumption Accounting List. This list, utilizing blockchain technology, records a company's total electricity consumption throughout a one-year period.

It also indicates the proportion of green electricity and self-generated energy consumed. By scanning a QR code, individuals can trace the sources of green electricity and green certificate.

"Through green electricity and green certificate trading, companies can achieve energy-saving goals, effectively promoting society's transition towards green and low-carbon development," stated Zhao Pengfei from the Marketing Department of Shanghai Power Exchange Co Ltd.

"The significant increase in market trading volume indicates the continuous improvement of policy mechanisms and the growing need to conserve energy and reduce carbon emissions from enterprises. As the market supply continues to expand, coupled with the increase in green certificate purchases, the vitality of the green certificate market will continue to rise," Zhao said.

Source: Xinhua News Agency