MEX and GPEC signed a special cooperation agreement on green power certificates

Macau, March 27, 2025 - At the first Global Carbon Credit Market Development Forum, The Macao International Carbon Emission Exchange (MEX) and the Guangzhou Power Exchange Center officially signed a special cooperation agreement on green power certificates, marking a key step forward for the Guangdong-Hong Kong-Macao Greater Bay Area in cross-border green certificate trading.

Signing Ceremony Scene of The Macao International Carbon Emission Exchange (MEX) and Guangzhou Power Exchange Center. Photo by MEX

The green development of energy is a key measure to address climate change, and green power certificates, as internationally recognized proof of renewable energy consumption, play an important role in this process. In recent years, China has continued to advance its green and low-carbon transformation, established a green power certificate system supported by power grid and electricity trading data, and actively explored alignment with international standards for green certificates.

Against this backdrop, The Macao International Carbon Emission Exchange (MEX) and the Guangzhou Power Exchange Center have fully leveraged their respective strengths to jointly explore innovative models for the international promotion of China's Green Electricity Certificates (GEC), striving to open new pathways for GEC to enter overseas markets and enhance its international recognition. Under the cooperation agreement, the two parties will jointly advance the overseas promotion of GEC in compliance with laws and regulations, focusing on in-depth cooperation in the following areas: expanding innovative applications of GEC in overseas green consumption scenarios (hotels, exhibitions, large-scale events, etc.), exploring the application of green certificates in the field of carbon accounting and overseas service models, and conducting capacity-building training.

Zhang Qiaoling, Chief Legal Counsel and Compliance Officer of the Guangzhou Power Exchange Center, stated: "The state has established a green power certificate system in the energy and power sector, issuing green certificates based on data from power grid enterprises and electricity trading institutions, conducting green power and certificate transactions through electricity trading institutions, and aligning with international standards via a full-cycle traceability mechanism. The Guangzhou Power Exchange Center currently has 213,900 registered business entities, with users spanning Hong Kong, Macao, and Taiwan. The platform supports nationwide green certificate trading and provides traceability, evaluation, and certification support for green power and certificates. Green certificates can both quantify environmental rights and guide green consumption. It is recommended to strengthen international mutual recognition of standards and market function integration to assist enterprises in green and low-carbon development."

Zhang Qiaoling, Chief Legal Counsel and Compliance Officer of the Guangzhou Power Exchange Center

Chen Hao, R&D Director of Macao International Carbon Emission Exchange (MEX) , said: "This cooperation is an important milestone in the interconnection of green infrastructure in the Guangdong-Hong Kong-Macao Greater Bay Area. We will fully leverage Macau's advantages under the 'One Country, Two Systems' framework and its role as an international platform, as well as its network of Portuguese-speaking countries, to work with the Guangzhou Power Exchange Center to integrate China's green power certificates with international markets and contribute Chinese solutions to global carbon neutrality goals. We look forward to joining hands with the Guangzhou Power Exchange Center to jointly explore innovative overseas application scenarios for green power certificates in carbon accounting, green consumption and other fields."

The Macao International Carbon Emission Exchange (MEX)，aims to connect global climate-related products and opportunities through leading information technology and product standards, providing innovative solutions for China to engage with the international environmental products market. Relying on Macau's advantage as a link to Portuguese-speaking countries across four continents, MEX builds an international climate cooperation bridge connecting China and foreign countries to serve the world, offering services such as screening, trading, custody, settlement, and offsetting of environmental products like carbon credits and green energy certificates that meet sustainable development performance requirements.

the Guangzhou Power Exchange Center (GPEC)，approved by the National Development and Reform Commission and the National Energy Administration, it was established in 2016 as a regional electricity trading institution and is one of the three national green certificate trading platforms in China. It primarily undertakes cross-provincial and cross-regional electricity trading in the southern region, implements the "West-East Power Transmission" strategy, and promotes the consumption of clean energy. As a non-profit institution, its business covers electricity market construction, green certificate and green power market development, trading organization, settlement services, and information disclosure. Since its establishment, the volume of electricity transmitted from west to east has grown steadily, reaching 238.44 billion kWh in 2024, of which cross-provincial market-based trading volume accounted for 39.8% (94.79 billion kWh), effectively promoting the optimal allocation of regional power resources. In the first quarter of 2025, with the continuous expansion of green certificate and green power applications in scenarios such as energy consumption dual control, green trade, and green supply chains, trading on the Guangzhou Power Exchange Center platform surged to 128.9 billion kWh (corresponding to 128.9 million green certificates), exceeding the total of the previous two years. Cross-provincial transactions accounted for 81%, and standalone green certificate transactions reached 104.87 million, accounting for approximately 75% of the national total.