Guangdong carbon market closes lower-Xinhua

Guangdong carbon market closes lower

Source: Xinhua

Editor: huaxia

2024-04-02 22:36:00

GUANGZHOU, April 2 (Xinhua) -- Carbon emissions allowances closed at 64.54 yuan (about 9.1 U.S. dollars) per tonne on Tuesday, 0.22 percent down from Monday at Guangzhou Emissions Exchange, the largest local carbon market in China.

A total of 3,070 tonnes of allowances were transacted on Tuesday with a turnover of 198,147.74 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 nearly 224.91 million tonnes of GDEA, with a total turnover of some 6.43 billion yuan.