The price of Australian carbon credit units (ACCUs) reached $18.50/t on Monday, a record high, driven by market anticipation of more ambitious climate targets, potentially as early as April of this year.
RepuTex’s ACCU benchmark price index is up 12% calendar year-to-date, with the current price surpassing the previous high of $17.54/t recorded in November 2019.
The surge in prices comes amid increasing interest in the carbon offset market from voluntary participants, fuelled by companies investing in offsets to meet net-zero emissions targets, and expectations that the Australian Government will set tougher targets for cutting emissions, leading to further price
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