Carbon Markets

MARKET UPDATE: Australian Carbon Offset Market Report: August 2 – 13, 2021

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Dear Subscriber,

Our latest Australian Carbon Offset Market Update has now been published.

ACCU spot prices grew 1.8% to $22.40/t over the fortnight, a new record high, despite low traded volumes and parcel sizes around 5,000-10,000. One forward transaction was recorded, with recent momentum incentivising compliance buyers to protect themselves from rapidly escalating spot prices amid tight supply. ACCU issuance fell by 10% from our earlier update, with the vast majority of new issuance surrendered to the Commonwealth under existing ERF contracts. Voluntary activity also fell from our previous update, albeit from a high base, with CY21 cancellations now 15% ahead of total CY20 volumes.

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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