Guangdong carbon market closes lower

0 Comment(s)Print E-mail Xinhua, June 5, 2023
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GUANGZHOU, June 5 (Xinhua) -- Carbon emissions allowances closed at 84.38 yuan (11.85 U.S. dollars) per tonne on Monday, down 0.12 percent from Friday, at Guangzhou Emissions Exchange, the largest local carbon market in China.

A total of 41,717 tonnes of allowances were transacted on Monday, with a turnover of 3.52 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 216.68 million tonnes of GDEA, with a total turnover of 5.83 billion yuan. Enditem

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