Carbon Markets

MARKET UPDATE: ACCU price continues to slide on increased supply, global uncertainty

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The spot price for Australian Carbon Credit Units (ACCUs) has continued its recent slide, closing at $47/t on Wednesday, down 3.25 (6.5%) on the week, with 18% wiped off the market since late January – the largest monthly decline since the inception of our price assessment in 2017. Lower prices have come on improved supply attributed to profit taking and newly available issuance, the net result of which has seen many large entities pull back their positions since late January. More recent concerns over the Russia-Ukraine conflict have also cascaded into a selloff across key global carbon markets this week, irrespective of market linkages and/or fundamentals, reflecting the increasing presence of global trading houses now active in the Australian market.

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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