Our latest Australian Carbon Offset Market Update has now been published.
ACCU spot prices grew 3% to $23.10/t over the fortnight, a new record high, with parcel sizes between 5,000-25,000. As noted in earlier updates, spot market action continues to be driven primarily by larger compliance buyers, with the completion of multi-year baselines leading to a forecast uptick in safeguard demand as companies begin to true-up offsets against their multi-year baselines. One forward transaction was recorded, while demand remained strong for longer-term ACCU offtake agreements. Total project registrations have now reached 1,000 for the first time, underpinned by continued uptake of soil carbon methods over August (and CY21). Internationally, despite a dip in prices, the bull run has largely continued for nature based projects.
The 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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