Carbon Markets

MARKET WRAP: The State of the Australian Carbon Market – October Review 2023

Our State of the Australian Carbon Market report for October 2023 has now been published, reviewing activity in the Australian carbon market over the last month.

Dynamics in the Australian Carbon Credit Unit (ACCU) market remained in a state of flux over October, with spot prices for Generic and HIR contracts trending around recent averages on lighter volumes, while Generic ACCUs ex Avoided Deforestation continued to gain traction in response to ongoing negative publicity of international forest conservation projects. The broader OTC (non-brokered) market remains well supported by corporate buyers with larger volumes transacting at premiums to broker traded spot prices, while the first soil carbon spot trade was reported, in small volumes. In the voluntary market, total cancellations were generally flat over the month, however, ACCU cancellations have grown steadily over 2023, suggesting a small ‘flight to quality’ – despite a strong overall trend for low-cost CERs.

The State of the Australian Carbon Market provides a snapshot of monthly activity in the Australian carbon market, reviewing key events, pricing and volumes for spot and forward contracts, along with our short-to-medium term market outlook.

This report is published under our Australian Carbon Intelligence service. Click below to access the report, or click here to take a tour of our EnergyIQ platform.

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