Prices for Australian Carbon Credit Units (ACCUs) fell on the week over our major categories, however the price slide has begun to ease as volumes hold at recent levels. Buy interest remains muted due to uncertainty around the current policy environment, yet as December approaches, the outcome of the Chubb Review (supply-side) and Safeguard Mechanism consultation (demand-side) should provide a more complete picture of how the local ACCU market will develop over the medium and long-term, with each representing a potentially positive event for price development. Voluntary cancellations of ACCUs have continued to surge over 2022, up 37% from 2021 behind purchases attributed to the underperformance of Chevron’s Gorgon CCS project. Internationally, prices for Gold Standard and Verra voluntary units rose slightly, while EUA prices remained stable after recent volatility.
This report analyses current activity in the Australian and international voluntary carbon markets, including spot and forward price dynamics, and prices by underlying project methodologies. 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.
