China carbon trading hits 337 mln tonnes by June

Source: Xinhua| 2019-07-11 19:42:32|Editor: ZX
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TIANJIN, July 11 (Xinhua) -- China's carbon emissions allowances trading had reached 337 million tonnes with a turnover of 7.3 billion yuan (1.06 billion U.S. dollars) by the end of June.

In June alone, the trading at nine carbon markets across the country hit 19 million tonnes with a combined turnover of 336 million yuan, according to the Tianjin Climate Exchange, one of the nine markets.

The trading volume and turnover in June were up 81.3 percent and 38.3 percent month on month, respectively, the exchange said.

Last month, the two carbon markets in the southern province of Guangdong contributed 13.5 million tonnes of the trading volume and the Tianjin market contributed 2.1 million tonnes, the exchange said.

Carbon emissions allowances were traded between 71.8 yuan and 87.5 yuan per tonne in Beijing, the highest level nationwide. The price at the China Emissions Exchange (Guangzhou), the largest carbon market in China, was around 23 yuan per tonne.

The allowances 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. Activities on the market are reflective of the industry's emissions control cost.