Carbon Markets

ALERT: ACCU spot price hits $23/t, new record high

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The spot price for Australian carbon credit units (ACCUs) continues to break new ground, reaching $23/t on Thursday (via Jarden), a new record high, as the market continues to be buoyed by demand from large corporate emitters. RepuTex’s ACCU spot price assessment, which compiles aggregate transaction data from market participants, has now grown 39% calendar year-to-date.

The Australian carbon market has witnessed rapid growth in recent months, with higher prices driving the issuance of a record 16.5 million new carbon offsets in FY21, and a wave of new carbon project registrations. 203 projects were registered in FY21, a 227% increase on the year. 993 carbon projects have now been registered under the government’s Emissions Reduction Fund (ERF) framework, with total ACCU issuance just shy of 100 million units (98.9m).

Total demand reached 25,041,178 in FY21, a 20% increase on FY20, with voluntary cancellations growing 9.56 million, a 45% increase from FY20. Two-thirds (65%) of all demand was in the form of ACCUs with the balance in the form of international Certified Emissions Reductions (CERs) (35%).

To download our State of the Australian Carbon Market 2021 report, click here.

Kind Regards
The RepuTex Team
Australian Energy Markets

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