Carbon Markets

UPDATE: Forward ACCU contracting hits record high while spot volumes and HIR offers stagnate

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Our latest Carbon Weekly report has now been published, reviewing activity in the Australian and international carbon markets for the period May 13 – 17 May 2024.

The Australian carbon market continues to be dominated by derivatives trading, with a new record high set for forwards/options traded volumes in May, surpassing the previous record set in January 2023 by over 50%, with ten trading days remaining in the month. The increase in carbon derivatives activity represents a key milestone, indicating an increasing maturity in the market, which has generally been focused on spot contracting and long-term offtake agreements. While recent activity has centred on the forward traded market, the spot market for both Generic ACCUs and Human-Induced Regeneration (HIR) ACCUs stagnated over the week, suggesting the market has more room to grow to support overall market liquidity.

RepuTex’s Carbon Weekly report analyses recent activity in the Australian and international voluntary carbon markets, including our ACCU spot price assessment by method, spreads, forward activity, traded volumes, and key market developments. Analysis considers the Australian market along with international registries including Verra, Gold Standard, the American Carbon Registry, and the Climate Action Reserve.

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