Carbon Markets

MARKET UPDATE: Australian Carbon Offset Market Report: September 27 – October 8, 2021

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Dear Subscriber,

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

TThe ACCU spot price continued its recent uptrend over the fortnight, growing 13% to $29.50/t, a new record high. RepuTex’s ACCU spot price assessment is now up 79% calendar year-to-date, with recent activity underpinned by smaller parcel sizes as new participants enter the market, particularly investors and intermediaries. Demand at larger volumes continues to be seen via bilateral contracting and via the forward market. As a result, we attribute the current supply squeeze to new issuance being set aside to fulfill direct contracting, with lower volumes of excess issuance trickling down to the spot market where demand continues to outweigh supply. Voluntary cancellations in Australia have now surpassed 8 million for CY21, 26% ahead of CY20 levels. Internationally, CORSIA aligned offset prices fell heavily, while prices for other offsets largely held flat over the fortnight.

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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