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Abstract The decline in global plant diversity has raised concerns about its implications for carbon fixation and global greenhouse gas emissions (GGE), including carbon dioxide (CO₂), nitrous oxide (N₂O) and methane (CH₄). Therefore, we conducted a comprehensive meta‐analysis of 2103 paired observations, examining GGE, soil organic carbon (SOC) and plant carbon in plant mixtures and monocultures. Our findings indicate that plant mixtures decrease soil N₂O emissions by 21.4% compared to monocultures. No significant differences occurred between mixtures and monocultures for soil CO₂emissions, CH₄emissions or CH₄uptake. Plant mixtures exhibit higher SOC and plant carbon storage than monocultures. After 10 years of vegetation development, a 40% reduction in species richness decreases SOC content and plant carbon storage by 12.3% and 58.7% respectively. These findings offer insights into the intricate connections between plant diversity, soil and plant carbon storage and GGE—a critical but previously unexamined aspect of biodiversity–ecosystem functioning.