Guangdong carbon market closes lower

GUANGZHOU, Aug. 6 (Xinhua) -- Carbon emissions allowances closed at 38.45 yuan (about 5.66 U.S. dollars) per tonne on Thursday, 0.03 percent down from the last transaction day at Guangzhou Emissions Exchange.

A total of 216,047 tonnes of allowances were transacted on Thursday with a turnover of nearly 8.27 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 235.582 million tonnes of GDEA, with a total turnover of 6.878 billion yuan. Enditem