Guangdong carbon market closes flat

GUANGZHOU, Dec. 25 (Xinhua) -- Carbon emissions allowances closed at 40.81 yuan (about 5.8 U.S. dollars) per tonne on Thursday, unchanged from Wednesday, at Guangzhou Emissions Exchange.

A total of 1 tonne of allowances was transacted on Thursday with a turnover of 39.9 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 232.85 million tonnes of GDEA, with a total turnover of 6.77 billion yuan. Enditem