Using　the　carbon　emissions　trading　pilot　policy　implemented　since　2011　as　a　quasi-natural　experiment,　this　paper　constructs　a　multi-period　DID　model　based　on　panel　data　of　280　prefecture-level　cities　from　2006–2019　to　explore　the　impact　of　the　carbon　emissions　trading　pilot　policy　on　industrial　structure　upgrading　and　conducts　a　heterogeneity　test　and　mechanism　test.　This　study　finds　that　the　carbon　emissions　trading　pilot　policy　significantly　promotes　the　upgrading　of　industrial　structures,　especially　for　larger　cities　and　non-resource-based　cities.　Further　exploration　of　the　impact　mechanism　shows　that　the　carbon　emissions　trading　pilot　policy　promotes　industrial　structure　upgrading　mainly　through　green　innovation.　The　findings　of　the　study　have　significant　implications　for　the　construction　of　a　high-quality,　modernized　economic　system　in　China.　©　2022　by　the　authors.