Carbon Markets

UPDATE: ACCU prices climb to 8-month high in early January as nature-based units test higher levels

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Our latest Carbon Weekly report has now been published, reviewing activity in the Australian and international carbon markets for the period 18 December 2023 – 12 January 2024.

The expected lull in market activity over the holiday period saw small trades drive prices up across the ACCU market, with prices for HIR units touching $38/t on spotty trading in early January – an 8-month high – as sellers begin to reach for profit targets around $40/t. Prices for both Generic and No-Avoided Deforestation Generic ACCUs have grown to a 6-month high, with the strong spot volumes that closed out 2023 continuing behind good activity last week. While we expect a continued increase in buying to gradually lift prices as Safeguard Mechanism covered facilities enter the market, higher volumes are being well absorbed in what is a structurally oversupplied market, with a sustained break dependent on the pace and scale of forecast compliance activity.

RepuTex’s Carbon Weekly report analyses recent activity in the Australian and international voluntary carbon markets, including our ACCU spot price assessment by method, spreads, forward activity, traded volumes, and key market developments. Analysis considers the Australian market along with international registries including Verra, Gold Standard, the American Carbon Registry, and the Climate Action Reserve.

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