Carbon Markets

UPDATE: Chubb Review begins to bite as HIR issuances flatline over 2023

Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedInEmail this to someone

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.

Restricted Access

This is a subscriber report. Please login to access this content.

Become a Carbon Insider today

Unlock our latest analysis, briefings and price information with our new Carbon Insider service.

Click below to see our plans.

Sign up for regular insights

LATEST UPDATES

  • Carbon Markets

    MARKET WRAP: The State of the Australian Carbon Market – May Review 2023

    Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedInEmail this to someone

    Pricing across key methodologies fell through the second half of May as ACCU holders began […]

    Research Insights | June 6th, 2023
  • Carbon Markets

    UPDATE: Domestic prices fall sharply as increased supply weighs down the market, further ERF reform looms

    Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedInEmail this to someone

    Australian Carbon Credit Unit (ACCU) prices fell across key categories as an increase in supply […]

    Research Insights | June 5th, 2023
  • Carbon Markets

    UPDATE: Large options transact, Generic and HIR ACCU prices fall to 3-month low

    Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedInEmail this to someone

    A range of ACCU projects and contracts transacted last week, with the majority of volumes […]

    Research Insights | May 29th, 2023
  • Carbon Markets

    UPDATE: Chubb Review begins to bite as HIR issuances flatline over 2023

    Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedInEmail this to someone

    Traded volumes again remained comparatively low last week as market focus turned towards Generic ACCUs […]

    Research Insights | May 22nd, 2023
  • Carbon Markets

    UPDATE: Forward trading active following the release of final Safeguard Mechanism rules

    Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedInEmail this to someone

    The release of the new Safeguard Mechanism Amendment Rules triggered an uptick in forward trading […]

    Research Insights | May 15th, 2023
  • Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedInEmail this to someone