GUANGZHOU, Sept. 23 (Xinhua) -- Carbon emissions allowances closed at 47.94 yuan (about 6.79 U.S. dollars) per tonne on Monday, 9 percent up from Friday at Guangzhou Emissions Exchange, the largest local carbon market in China.

A total of 2,210 tonnes of allowances were transacted on Monday with a turnover of 105,955.25 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 228.588 million tonnes of GDEA, with a total turnover of 6.613 billion yuan. Enditem

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