Guangdong carbon market closes higher

Source: Xinhua| 2021-10-21 17:15:56|Editor: huaxia

GUANGZHOU, Oct. 21 (Xinhua) -- Carbon emissions allowances closed at 43.67 yuan (about 6.83 U.S. dollars) per tonne on Thursday, 0.11 percent up from Wednesday, at China Emissions Exchange (Guangzhou), the largest local carbon market in China.

A total of 1,557 tonnes of allowances were transacted on Thursday, with a turnover of nearly 68,000 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 more than 197 million tonnes of GDEA, with a total turnover of nearly 4.5 billion yuan. Enditem

KEY WORDS: China,Market,Carbon Emissions