China Releases First Carbon Offset on Ant Group Blockchain: Report

Tianjin, known for its heavy industry and oil refineries, issued China's first blockchain-based carbon offset, as the country builds up its national carbon trading platform.

AccessTimeIconJul 19, 2021 at 4:50 a.m. UTC
Updated Dec 10, 2022 at 9:34 p.m. UTC
Drive the Crypto Policy Conversation Forward
October 24, 2023 • Convene • Washington D.C.Where the industry establishes the digital economy’s legal, regulatory and compliance best practices for the future.Register Now

Tianjin released China's first blockchain-based carbon offset certificate, Binhai Times reported, days after the world's second-largest economy launched its national carbon market.

  • The city's emission rights exchange announced the news at a conference on fintech and green finance held on July 15.
  • The offset is built using AntChain, fintech giant Ant Group's enterprise blockchain platform.
  • Blockchain can make the issuance, trading, and audit of carbon offsets transparent and traceable, according to the report.
  • China aims to achieve carbon neutrality by 2060, according to its latest Five-Year Plan. It is ramping up the use of green finance with green bonds and a national carbon market announced Friday.
  • Tianjin is a coastal city in northern China, close to Beijing. It is a major port and industrial hub in China, particularly in petrochemicals.
  • The local government has blockchain ambitions. In 2019 it announced a blockchain-based customs management platform and it is part of a wider plan to integrate logistics using blockchain across the region.
  • IBM started building a blockchain platform for carbon emissions in China in 2016.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.