China’s carbon prices decline on Tuesday

Carbon emissions allowances on Guangzhou’s Emissions Exchange, China’s largest local carbon market, closed at 48.81 yuan ($6.86) per ton, marking a 0.71 per cent decline from Friday.

A total of 16,520 tons of allowances were traded, amounting to a turnover of 806,370.8 yuan. These allowances, known as Guangdong Emissions Allowances (GDEA), cap CO2 emissions for companies, requiring those exceeding their limit to buy additional quotas.

Since its launch in December 2013, the market has seen trades of 226.31 million tons of GDEA, with a total turnover of 6.51 billion yuan.

Attribution: Xinhua.