Carbon Markets

MARKET UPDATE: Australian Carbon Offset Market Report: Oct 25 – Nov 5, 2021

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Dear Subscriber,

Our latest Australian Carbon Offset Market Update has now been published.

Death, taxes, and the continued ACCU spot price bull run. The ACCU spot price climbed a further 10% over the fortnight, to $37/t, with RepuTex’s ACCU spot price assessment now up 124% year-to-date. Two forward trades were recorded over the period, with Feb-22 (CAL 21) prices rising off the current spot price. As COP26 commenced, the international voluntary market saw a flurry of action, with a significant volume of new energy efficiency projects entering the market, while heavy purchasing from Klima DAO sought to drive up prices. Just over half a million offsets were voluntarily cancelled by Australian companies over the period (584,409), with 97% in the form of low-end Certified Emissions Reductions (CERs). This remains an area of interest for Australian market participants, with potential for Article 6 negotiations to agree to vintage restrictions as a means to increase the quality and additionality of Paris-eligible offsets.

This report provides a snapshot of current activity in the Australian and international voluntary carbon markets, including spot and forward price dynamics, offset issuance and voluntary cancellations. Analysis considers Australian Carbon Credit Units (ACCUs) and voluntary offsets across key international registries including Verra, Gold Standard, the American Carbon Registry, and the Climate Action Reserve.

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