Guangdong Carbon Market Closes Higher

Guangdong carbon market closes higher

Carbon emissions allowances closed at 40.07 yuan (6.26 U.S. dollars) per tonne on Tuesday, 0.23 percent up from Friday, at China Emissions Exchange (Guangzhou), the largest local carbon market in China

GUANGZHOU, (APP - UrduPoint / Pakistan Point News - 15th Jun, 2021 ) :Carbon emissions allowances closed at 40.07 Yuan (6.26 U.S. Dollars) per tonne on Tuesday, 0.23 percent up from Friday, at China Emissions Exchange (Guangzhou), the largest local carbon market in China.

A total of 54,550 tonnes of allowances were transacted on Tuesday, with a turnover of 2.19 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 186.95 million tonnes of GDEA, with a total turnover of 4.07 billion yuan.