Guangdong Carbon Market Closes Higher
Sumaira FH Published April 26, 2024 | 03:10 PM
GUANGZHOU, (APP - UrduPoint / Pakistan Point News - 26th Apr, 2024) Carbon emissions allowances closed at 62.79 Yuan (8.67 U.S. Dollars) per tonne on Friday, up 1.01 percent from Thursday at Guangzhou Emissions Exchange, the largest local carbon market in China.
A total of 65,171 tonnes of allowances were transacted on Friday with a turnover of 3.78 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 225.52 million tonnes of GDEA, with a total turnover of 6.47 billion yuan.
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