Abstract: Using the data of 1 585 listed manufacturing companies from 2013 to 2021 as a sample,this paper studied the impact of carbon emission trading market prices on enterprise value. It's found that the fluctuation degree of carbon emission trading market price had a significant positive correlation with the value of manufacturing listed companies. After the robustness test,it unanimously established the conclusion. From the government and enterprise level,it put forward suggestions to give full play to the role of the carbon emission trading market,to promote carbon emission reduction actions,and to promote the green transformation and upgrading of enterprises.