2021 was a year of records in the Australian carbon market, with prices, volumes and voluntary cancellations of Australian Carbon Credit Units (ACCUs) up across the board. Key outcomes (from 2020) include:
- 209% increase in prices
- 76% increase in ACCUs transacted in the secondary market
- 170% increase in ACCU market value
- 101% increase in voluntary cancellations
- 26% increase in project registrations
2022 shapes as key year for the Australian carbon market, with a range of events likely to impact price development, including the federal election (on or before 21 May 2022), the potential alignment of the Safeguard Mechanism with a net-zero emissions target, and the design and commencement of new Safeguard Mechanism Credits (SMCs).
In this update, we take a closer look at 2021 in the Australian carbon market ‘by the numbers’, and the implications for 2022.
