Carbon market in Guangdong

Carbon emissions permits ended on Wednesday at 80.83 yuan (12 US dollars) per tonne, down 1.62 percent from Tuesday, on the Guangzhou Emissions Exchange, China’s largest local carbon market.

On Wednesday, a total of 20,531 tonnes of allowances were traded for a total of 1.66 million yuan.
The allowances, known formally as Guangdong Emissions Allowances (GDEA), are carbon dioxide emissions limitations allocated to businesses. Firms whose emissions exceed their share must acquire additional permits from the government or purchase unused quotas on the market from those causing less pollution.

The market has traded 203.95 million tonnes of GDEA with a total volume of 4.86 billion yuan since its inception in December 2013.

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