Carbon emissions allowances at the Guangzhou Emissions Exchange, China's largest local carbon market, closed at 62.78 yuan (approximately 8.68 US dollars) per ton on Monday, marking a 0.62 per cent decrease from Wednesday. The day saw transactions of 10,311 tons of allowances, resulting in a turnover of 647,304.15 yuan. These allowances, known as Guangdong Emissions Allowances (GDEA), represent carbon dioxide emissions limits set for companies. Companies exceeding their emissions limit are required to purchase additional quotas from authorities or buy unused quotas from less polluting firms on the market. Since its inception in December 2013, the market has traded 224.911 million tons of GDEA, with a cumulative turnover of 6.428 billion yuan. In addition to GDEA, the market also traded 137,776 tons of China Certified Emissions Reductions (CCER) on Monday. CCERs represent voluntary emissions reductions by companies achieved through methods like afforestation or the use of clean energy technologies. The Guangdong carbon market encompasses all companies in the province (excluding those in Shenzhen, which has its own market) that exceed 10,000 tons of annual carbon dioxide emissions. To date, 200 enterprises from sectors such as steel, cement, petrochemicals, papermaking, and aviation have been included. The market activities reflect the cost of emissions control in the industry in Guangdong, a significant manufacturing hub and major energy consumer in China.
