Carbon Markets

MARKET UPDATE: Australian Carbon Offset Market Report: October 11 – 22, 2021

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Dear Subscriber,

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

As we noted in our recent update, the ACCU spot price continued its bull run over the fortnight, growing 14% to $33.50/t, a new record high. RepuTex’s ACCU spot price assessment has more than doubled over 2021 – outperforming the EU ETS over the same period – as the market remains constrained by the low availability of uncontracted supply. While ACCU spot prices capture the headlines, corporate Australia’s love affair with low-cost international Certified Emissions Reductions (CERs) continues, with over 1.6 million offsets voluntarily cancelled over the period, (92%) in the form of CERs. Voluntary cancellations for CY21 are now 51% ahead of CY20. Internationally, CORSIA-grade voluntary prices continued their downward correction, while prices for higher quality sequestration and removal projects rose.

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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