Guangdong carbon market closes higher

GUANGZHOU, June 15– Carbon emissions allowances closed at 79.54 yuan per tonne on Wednesday, 0.52 percent up from Tuesday, at Guangzhou Emissions Exchange, the largest local carbon market in China. A total of 111 tonnes of allowances were transacted on Wednesday, with a turnover of 8,830 yuan. Since its opening in December 2013, the market has traded 206.71 million…

GUANGZHOU, June 15 (Xinhua) — Carbon emissions allowances closed at 79.54 yuan (about 11.78 U.S. dollars) per tonne on Wednesday, 0.52 percent up from Tuesday, at Guangzhou Emissions Exchange, the largest local carbon market in China.

A total of 111 tonnes of allowances were transacted on Wednesday, with a turnover of 8,830 yuan.

The allowances, officially known as Guangdong Emissions Allowances (GDEA), are carbon dioxide emissions caps assigned to companies. Firms whose emissions surpass their share must buy extra quotas from authorities or purchase unused quotas on the market from those that cause less pollution.

Since its opening in December 2013, the market has traded 206.71 million tonnes of GDEA, with a total turnover of 5.05 billion yuan. Enditem