GUANGZHOU, Sept. 28 (Xinhua) -- Carbon emissions allowances closed at 27.50 yuan (about 4.03 U.S. dollars) per tonne Monday, 1.68 percent down from Friday, at the China Emissions Exchange (Guangzhou), the largest local carbon market in China.

A total of 266,122 tonnes of allowances were transacted Monday, with a turnover of 6.697 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 159.473 million tonnes of GDEA, with a total turnover of 3.218 billion yuan. Enditem

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