An ad promotes the carbon sector of the Shanghai Data Exchange. [Photo/Shanghai Observer]

The Shanghai Data Exchange has launched a dedicated carbon sector, focusing on the synergies between data elements and green and low-carbon initiatives in the city in East China.

The move is said to be a significant step forwards in leveraging data to achieve eco-friendly sustainability goals.

The platform currently features 58 data products – including offerings from prominent companies like Ouyeel, E&P International and global financial services group Deloitte. The products showcase the potential of data to enhance carbon management and facilitate greener business practices.

The launch comes after the three-year operation of the national carbon emissions trading market, which opened on July 16, 2021. By July 15, 2024, the market had facilitated trading of 465 million tons of carbon allowances, with a total transaction value of nearly 27 billion yuan ($3.72 billion).

Source: Shanghai Observer