Carbon Markets

UPDATE: Carbon Offset Market Report – Limited trading as prices come off, new criticism of HIR projects emerges

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The Australian Carbon Credit Unit (ACCU) market traded thinly over the past week as prices fell in the brokered market on comparatively low volumes, with one moderate-sized trade for a Piggeries project (Animal effluent management method) recorded, notable in its rarity and price point. Separately, further concerns around the integrity of crediting to HIR projects has been raised by ANU academics, with analysis indicating that forest cover in HIR project areas has closely tracked trends in comparison areas. While the concerns raised are not new, they are likely to further fuel the current holding pattern in the market until the Safeguard Mechanism draft design and the Chubb Review outcomes are released in December, with the latter opening participants to some volumetric risks.

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.

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