ACCU prices again remained confined to a narrow trading range last week, with subdued market participation and light turnover seeing realised volatility fall to a historic low. While the traded market remains muted, policy activity is beginning to build ahead of the 2026–27 Safeguard Mechanism Review. In this Carbon Weekly, we provide an update on the timing of the government’s Discussion Paper, and what to expect as the policy review approaches.
RepuTex’s Carbon Weekly report breaks down activity in the Australian exchange-traded and OTC carbon markets (spot and derivatives), including recent trends, drivers, and our latest spot and forward pricing benchmarks.
ACCUs remain rangebound, trade sideways on subdued activity
Total traded volumes across the Australian exchange-traded and OTC carbon markets fell to 616k last week (-339k WoW) yet remained above the year-to-date weekly average (558k). Spot volumes eased to a four week-low of 205k (-220k WoW), led by Generic (No-Avoided Deforestation) ACCUs (63%), followed by Generic ACCUs (22%) and Human Induced Regeneration ACCUs (15%).
Spot activity was front-loaded, peaking on Monday (80k) and Tuesday (65k) before easing mid-week, recovering slightly on Friday (50k). Trading again held within a narrow $0.10/t band ($37.90/t – $38.00/t) from Monday – Thursday, with most activity
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