Guangdong carbon market closes higher
GUANGZHOU, May 11– Carbon emissions allowances closed at 84.91 yuan per tonne on Thursday, 0.32 percent up from Wednesday, at Guangzhou Emissions Exchange, the largest local carbon market in China. A total of 17,200 tonnes of allowances were transacted on Thursday, with a turnover of more than 1.45 million yuan. Since its opening in December 2013, the market has…
GUANGZHOU, May 11 (Xinhua) — Carbon emissions allowances closed at 84.91 yuan (about 12.3 U.S. dollars) per tonne on Thursday, 0.32 percent up from Wednesday, at Guangzhou Emissions Exchange, the largest local carbon market in China.
A total of 17,200 tonnes of allowances were transacted on Thursday, with a turnover of more than 1.45 million 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 over 215 million tonnes of GDEA, with a total turnover of more than 5.7 billion yuan. Enditem