An essential pathway for reducing carbon emissions in South China’s power grid is optimizing power market design and construction. To that end, NRDC supported a research project entitled, Accelerating the Decarbonisation of the South China Electricity Market with Effective Ancillary Services and Capacity Pricing. The project report was officially released at the UK-Southern China Climate Change Conference 2021 in Guangzhou, Guangdong Province on October 28, 2021. This research was led by the Guangdong Electric Power Design Institute in collaboration with AFRY Consulting and the Guangdong Electric Power Dispatching Center. The report found that building a regional power market that enables resource sharing across the region is an effective means for helping Guangdong province to decarbonize its power system and reduce the cost of its low-carbon transition. More than 200 people from the Guangdong government, British embassy and consulates, academia, and NGOs attended the conference and side events on green finance, zero emission transport, and natural solutions. NRDC will work with partners to further disseminate lessons from Guangdong’s experience and support the achievement of China’s carbon peaking and carbon neutrality goals.