GUANGZHOU, Nov. 12 (Xinhua) -- Carbon emissions allowances closed at 40.67 yuan (about 5.65 U.S. dollars) per tonne on Tuesday, keeping flat as Monday, at Guangzhou Emissions Exchange, the largest local carbon market in China.

A total of 1 tonne of allowances was transacted on Tuesday with a turnover of 42.5 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 228.71 million tonnes of GDEA, with a total turnover of 6.62 billion yuan. Enditem

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