Guangdong carbon market closes lower
Take me away, mom Animals on the Road	“Water Margin” on eggs Cat the occupier Adorable animals pose like stars Cuddle up together, battling against blizzard Sunshine in the life

 

Carbon emissions allowances closed at 20.24 yuan (about 2.99 U.S. dollars) per tonne on Monday, 7.5 percent down from Tuesday, on the China Emissions Exchange (Guangzhou), the largest local carbon market in China.

A total of 706,110 tonnes of allowances were transacted on Monday, with a turnover of 14.65 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 about 114.54 million tonnes of GDEA, with a total turnover of around 2.25 billion yuan.

The carbon market in Guangdong covers all companies whose annual carbon dioxide emissions surpass twenty thousand tonnes from the province, except those in Shenzhen, which has a separate market. So far, more than 240 enterprises in sectors of power generation, steel, cement, petrochemicals, paper making and aviation have been included.

Activities on the market are reflective of the industry's emissions control cost in Guangdong, a manufacturing powerhouse and big energy consumer in China.

Author： 　　　Source：xinhua　　　 Editor：Yang Fan