Carbon Markets

UPDATE: Australian Carbon Offset Market Report – Spot volumes hit record high but ACCU prices soften as supply improves

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The spot price for Australian Carbon Credit Units (ACCUs) has continued to soften, closing down -5.5% on the week, yet recovering slightly on Wednesday. The ACCU spot price has now largely eroded gains made over January, with year-to-date growth almost returning to parity with the start of the year. Counter to softening prices, spot traded volumes have surged to a record high in February (on larger parcel sizes) – surpassing the previous high by 49% with just over one week remaining in the month – driven by increasing investor participation, last minute compliance buying and corporate voluntary activity. While issuance has remained stable, current price dynamics reflect the increased availability of supply from key sources. Internationally, prices declined across most major categories, while REDD+ prices for projects with a 2018+ vintage increased following an announced change to the N-GEO spot contract.

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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