GUANGZHOU, Dec. 4 (Xinhua) -- Carbon emissions allowances closed at 41.06 yuan (about 5.71 U.S. dollars) per tonne on Wednesday, 7.6 percent up from Tuesday at Guangzhou Emissions Exchange, the largest local carbon market in China.

A total of 55,034 tonnes of allowances were transacted on Wednesday with a turnover of over 1.89 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 nearly 228.84 million tonnes of GDEA, with a total turnover of over 6.62 billion yuan. Enditem

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