Guangdong carbon market closes lower

GUANGZHOU, June 21– Carbon emissions allowances closed at 78.27 yuan per tonne on Tuesday, 0.22 percent down from Monday, at Guangzhou Emissions Exchange, the largest local carbon market in China. A total of 17,900 tonnes of allowances were transacted on Tuesday, with a turnover of 1.4 million yuan. Since its opening in December 2013, the market has traded 206.779…

GUANGZHOU, June 21 (Xinhua) — Carbon emissions allowances closed at 78.27 yuan (11.7 U.S. dollars) per tonne on Tuesday, 0.22 percent down from Monday, at Guangzhou Emissions Exchange, the largest local carbon market in China.

A total of 17,900 tonnes of allowances were transacted on Tuesday, with a turnover of 1.4 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 206.779 million tonnes of GDEA, with a total turnover of 5.05 billion yuan. Enditem

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