Abstract: In order to promote the low-carbon and clean transformation of energy system and promote the on-site consumption of a high proportion of new energy, this paper proposes a source-load low-carbon economic dispatch method for hydrogen multi-energy system (HMES) based on mutual recognition of carbon-green certificates and electric and thermal flexible loads. Firstly, on the source side, the heat loss and waste heat utilization during the electrolytic cell hydrogen production process are taken into consideration, and a hydrogen energy multi-link utilization model including the electrolytic cell heat-hydrogen co-generation link, the hydrogen-to-thermoelectricity link and the hydrogen-to-methane link is established; on the load side, the transferable, cuttable, shiftable and substitutable characteristics of electric and heating loads are taken into consideration, and a combined electric and heating demand response model is constructed. Secondly, while considering the mutual recognition relationship between carbon quotas and green certificates, a carbon-green certificate joint trading method is proposed. In the HMES objective function, reward and punishment ladder-type carbon transaction costs and green certificate transaction costs are introduced.Finally, with the lowest comprehensive cost as the goal, the low-carbon nature and economy of the system are taken into consideration, and an HMES source-load low-carbon economic dispatch model is constructed. Multiple scenarios are simulated and compared for analysis, and the results show that the proposed method can be adopted to reduce the comprehensive cost of HMES system by 25.6%, carbon emissions by 39.2%, and achieve full consumption of new energy in the system, verifying that the proposed method can be adopted to effectively improve the consumption capacity of renewable energy and achieve low-carbon and economic operation of HMES.