Guangdong carbon market closes lower

GUANGZHOU, March 30 (Xinhua) -- Carbon emissions allowances closed at 39.43 yuan (5.70 U.S. dollars) per tonne on Monday, 0.50 percent down from last transaction day at Guangzhou Emissions Exchange.

A total of 25,295 tonnes of allowances were transacted on Monday with a turnover of 997,333.22 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 233.509 million tonnes of GDEA, with a total turnover of 6.798 billion yuan. Enditem