This study utilizes 521,631 activity data points from the 2007 Shanghai Pollution Source Census to compile a stationary carbon emission inventory for Shanghai. The inventory generated from our dataset shows that a large portion of Shanghai’s total energy use consists of coal-oriented energy consumption. The electricity and heat production industries, iron and steel mills, and the petroleum refining industry are the main carbon emitters. In addition, most of these industries are located in Baoshan District, which is Shanghai’s largest contributor of carbon emissions. Policy makers can use the enterprise-level carbon emission inventory and the method designed in this study to construct sound carbon emission reduction policies. The carbon trading scheme to be established in Shanghai based on the developed carbon inventory is also introduced in this paper with the aim of promoting the monitoring, reporting and verification of carbon trading. Moreover, we believe that it might be useful to consider the participation of industries, such as those for food processing, beverage, and tobacco, in Shanghai’s carbon trading scheme. Based on the results contained herein, we recommend establishing a comprehensive carbon emission inventory by inputting data from the pollution source census used in this study.