Traded volumes again remained comparatively low last week as market focus turned towards Generic ACCUs (low-cost avoidance projects) that excluded the Avoided Deforestation (AD) methodology. Interest in “no-AD” Generics has grown in recent months as some participants account for integrity risks, influenced by ongoing international criticism of some REDD+ projects, and the Chubb Review. Four months after the release of the Chubb Review, recommendations made by the ACCU Review Panel to improve the integrity and effectiveness of Australia’s carbon crediting scheme have begun to impact the local market, with issuances of Human Induced Regeneration (HIR) credits – Australia’s largest carbon offset methodology – flatlining since early 2023, as recommendations made by the independent panel have begun to take effect.
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.
