Guangdong carbon market remains unchanged

(ECNS) -- Carbon emissions allowances in Guangdong closed at 38.37 yuan (about $5.35) per metric ton on Thursday, unchanged from the previous trading day, according to the Guangzhou Emissions Exchange.

A total of 100 metric tons of allowances changed hands that day, generating a transaction value of 3,820.84 yuan.

The allowances, officially known as Guangdong Emissions Allowances (GDEA), are carbon dioxide emissions quotas for companies. Businesses that exceed their allocated quotas must buy extra quotas from authorities or purchase unused quotas on the market from those that cause less pollution.

Since the market commenced operations in December 2013, cumulative trading of GDEA has reached 234.26 million tonnes, with total turnover amounting to 6.827 billion yuan.

(By Zhang Dongfang)