Carbon Markets

MARKET UPDATE: Australian Carbon Offset Market Report: September 13 – 24, 2021

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Dear Subscriber,

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

The ACCU spot price continued its recent bull run, growing 13% to $26/t over the fortnight, a new record high.  The ACCU spot price is now up 57% calendar year-to-date, with strong gains again driven by larger compliance buyers accumulating ACCUs to surrender against their multi-year baselines under the safeguard mechanism. Compliance demand continues to flow through to the forward market, with a flurry of transactions resulting in the Feb-22 (CAL 21) price surging 19% over the fortnight, while the Feb-23 (CAL 22) price grew 14% on higher volumes. Voluntary cancellations continue to climb toward a record 8 million for CY21, already 23% ahead of CY20 levels. Internationally, bullish sentiment ahead of more stringent CORSIA rules has continued to support the voluntary market, pushing prices further upward for most categories, with removals/sequestration projects continuing to trade at a premium.

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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