GUANGZHOU, April 29 (Xinhua) -- Carbon emissions allowances closed at 38.07 yuan (about 5.29 U.S. dollars) per tonne on Tuesday, 0.88 percent up from Monday at Guangzhou Emissions Exchange, the largest local carbon market in China.
A total of 288 tonnes of allowances were transacted on Tuesday with a turnover of 10,964.8 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 the authorities or purchase unused quotas on the market from those that cause less pollution.
Since its opening in December 2013, the market has traded 230.155 million tonnes of GDEA, with a total turnover of 6.676 billion yuan. ■
