Guangdong Carbon Market Closes Lower
Sumaira FH Published July 20, 2022 | 04:00 PM
GHUANGHOU, (UrduPoint / Pakistan Point News - 20th Jul, 2022 ) :Carbon emissions allowances closed at 78.25 Yuan (11.59 U.S. Dollars) per tonne on Wednesday, 1.4 percent down from Tuesday, at Guangzhou Emissions Exchange, the largest local carbon market in China.
A total of 10,723 tonnes of allowances were transacted on Wednesday, with a turnover of 839,054.97 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.
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