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.
UPDATE: Net-zero pledges drive higher voluntary demand for offsets, but corporates choose “price” over “integrity”
This is a subscriber report. Please login to access this content.
Learn more about our Australian carbon price and market analysis
Learn more about our modelling and price outlooks for the NEM
Access the latest market data with our EnergyIQ platform
View our latest articles, white papers, reports and publications