GUANGZHOU, July 28 (silubaba) -- Carbon emissions allowances closed at 77.02 yuan (10.76 U.S. dollars) per tonne on Friday, 0.30 percent down from Thursday, at the Guangzhou Emissions Exchange, the largest local carbon market in China.
A total of 2,060 tonnes of allowances were transacted on Friday, with a turnover of 158,665.45 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 220.189 million tonnes of GDEA, with a total turnover of 6.112 billion yuan.
On Friday, the market also traded 120 tonnes of China Certified Emissions Reductions, which are companies' voluntary reduction of emissions achieved via means such as afforestation or use of clean energy technologies.
The carbon market in Guangdong covers all companies from the province whose annual carbon dioxide emissions surpass 10,000 tonnes, except those in the city of Shenzhen, which has a separate market. So far, 200 enterprises in the sectors of 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. ■
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