Guangzhou: Carbon emissions allowances closed at 39.15 yuan (5.55 U.S. dollars) per tonne on Monday, marking a 4.16 percent decrease from the last transaction day at the Guangzhou Emissions Exchange, China's largest local carbon market.

According to Namibia Press Agency, a total of 5,649 tonnes of allowances were transacted on Monday, resulting in a turnover of 221,153.9 yuan. These allowances, known as Guangdong Emissions Allowances (GDEA), serve as carbon dioxide emissions caps assigned to companies. Companies exceeding their emissions quota are required to either purchase additional quotas from authorities or buy unused quotas from less polluting entities in the market.

Since its inception in December 2013, the Guangdong carbon market has facilitated the trading of 232.84 million tonnes of GDEA, accumulating a total turnover of 6.77 billion yuan.