Voluntary cancellations of carbon offsets under the Australian National Registry of Emissions Units (ANREU) have now surpassed 2021 levels, with almost 15 million units surrendered over the 2022 calendar year, a 15% increase from 2021. The uptick in voluntary activity reflects the increasing volume of net-zero and carbon neutral pledges from Australian companies, at both the corporate and product level, with many companies utilising carbon offsets to meet carbon neutrality claims under the Climate Active framework. Over 90% of all voluntary cancellations in the past year have been in the form of low-cost Certified Emissions Reductions (CERs), indicating that local companies continue to favour “price” over “integrity” in the execution of their procurement strategies, despite increasing stakeholder pressure, and the wider availability of higher quality international offsets.
Voluntary cancellations surpass 2021 levels as CERs surge
Voluntary cancellations under the Australian National Registry of Emissions Units (ANREU) have now surpassed 2021 levels, with 14.8 million units surrendered over the 2022 calendar year, a 15% increase from 2021 (12.9 million), with one month remaining in the year. In line with past trends, 91% of all cancellations over 2022 have been in the form of low-cost Certified Emissions Reductions (CERs), or 13.5 million. Total
Unlock our award-winning research insights
Request access to learn more about our research services, or click here to register for free access to our articles and price information.