Guangdong Carbon Market Closes Lower
Ijaz Ahmad Published September 22, 2023 | 07:06 PM
Carbon emissions allowances closed at 69.43 yuan (about 9.68 U.S. dollars) per tonne on Friday, 0.4 percent down from Thursday, at Guangzhou Emissions Exchange, the largest local carbon market in China
GUANGZHOU, (UrduPoint / Pakistan Point News - 22th Sep, 2023 ) -:Carbon emissions allowances closed at 69.43 Yuan (about 9.68 U.S. Dollars) per tonne on Friday, 0.4 percent down from Thursday, at Guangzhou Emissions Exchange, the largest local carbon market in China.
A total of 1,423 tonnes of allowances were transacted on Friday, with a turnover of 98,804.18 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 220.77 million tonnes of GDEA, with a total turnover of 6.16 billion yuan.