Guangdong carbon market remained unchanged

GUANGZHOU, Oct. 16 (Xinhua) -- Carbon emissions allowances closed at 38 yuan (about 5.68 U.S. dollars) per tonne on Friday, remained unchanged from last transaction day at Guangzhou Emissions Exchange.

A total of 1 tonne of allowance was transacted on Friday with a turnover of 38.48 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 237.405 million tonnes of GDEA, with a total turnover of 6.949 billion yuan.