Guangdong carbon market closes flat

0 Comment(s)Print E-mail Xinhua, November 13, 2024
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GUANGZHOU, Nov. 13 (Xinhua) -- Carbon emissions allowances closed at 40.67 yuan (about 5.64 U.S. dollars) per tonne on Wednesday, keeping flat as Tuesday, at Guangzhou Emissions Exchange, the largest local carbon market in China.

No allowances were transacted on Wednesday.

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 about 228.71 million tonnes of GDEA, with a total turnover of nearly 6.62 billion yuan. Enditem

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