Markets > Commodities

Guangdong carbon market closes higher

Xinhua News,GUANGZHOU
2020-02-26 17:01

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 Carbon emissions allowances closed at 28.99 yuan (4.13 U.S. dollars) per tonne on Wednesday, 1.12 percent up from Tuesday, at the China Emissions Exchange (Guangzhou), the largest local carbon market in China.

A total of 426,192 tonnes of allowances were transacted on Wednesday, with a turnover of 12 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 141.51 million tonnes of GDEA, with a total turnover of 2.78 billion yuan.
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