Guangdong Carbon Market Closes Higher

Sumaira FH Published October 27, 2021 | 03:45 PM

Carbon emissions allowances closed at 43.14 yuan (6.76 U.S. dollars) per tonne on Wednesday, 0.05 percent up from Tuesday, at China Emissions Exchange (Guangzhou), the largest local carbon market in China

GUANGZHOU, Oct. 27 (APP - UrduPoint / Pakistan Point News - 27th Oct, 2021 ) :Carbon emissions allowances closed at 43.14 Yuan (6.76 U.S. Dollars) per tonne on Wednesday, 0.05 percent up from Tuesday, at China Emissions Exchange (Guangzhou), the largest local carbon market in China.

A total of 1,569 tonnes of allowances were transacted on Wednesday, with a turnover of 67,340.57 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 197.121 million tonnes of GDEA, with a total turnover of 4.494 billion yuan.