Our latest Carbon Weekly report has now been published, reviewing activity in the Australian and international carbon markets for the period June 3 – 7 2024.
In a week of subdued trading, prices held stable across both Generic ACCUs and HIR ACCUs last week, with limited spot trading again led by Generic No-Avoided Deforestation (No-AD) ACCUs, a trend which has continued over the past 18 months. The week concluded on reports that the Coalition will oppose Australia’s legislated 2030 emissions target at the next election – maintaining its current position. While the markets may be jittery in response, the broader takeaway is that, after 2 years of relative peace-time and climate policy progress, Australia is again entering an election cycle, with the next federal election to be held by May 2025 at the latest.
Based on our current modelling, Australia remains on track to meet its 2030 target, despite slower renewable energy development, which we discuss in this update.
RepuTex’s Carbon Weekly report analyses recent activity in the Australian and international voluntary carbon markets, including our ACCU (Australian Carbon Credit Unit) 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.
