Carbon Markets

MARKET UPDATE: Australian Carbon Offset Market Report: July 19 – 30, 2021

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Dear Subscriber,

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

The Australian carbon spot price grew 4% to $22/t over the fortnight, a new record high, behind increasing corporate activity. While prices continue to trade at record levels, some short-term heat has come out of the market, with traded volumes and parcel sizes slowing. Three forward transactions were recorded over the period, including a put option for Feb-23. Six forward transactions have now been recorded since Apr-21 for delivery between Feb-21 and Feb-23. Voluntary cancellations continue to surge, with over 7 million offsets now cancelled over CY21, more than 90% of which have been in the form of Certified Emissions Reductions (CERs). Despite summer holidays in the Northern Hemisphere, international voluntary offset markets have remained active, most notably CBL’s GEO contract, which has continued its recent bull run.

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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