Carbon Markets

UPDATE: Late surge in market momentum provides price support, collar trading leads derivatives activity

Our latest Carbon Weekly report has now been published, reviewing activity in the Australian and international carbon markets for the period December 9 – 13 2024.

Momentum continued to build in the Australian carbon market last week, with traded volumes reaching a four-week high across both spot and derivatives markets. Our Generic ACCU (benchmark) and HIR ACCU price assessments stabilised late in the week after recent declines, with market balance shifting back towards buyers. In the derivatives market, trading was led by a handful of collar trades, with data indicating that hedging activity has lengthened into 2026, while outright options and OTC forward trading saw activity remains centred to near term tenors.

In this Carbon Weekly report, we analyse recent activity in the Australian and international voluntary carbon markets, including our ACCU spot price assessments, method spreads, forward activity, and traded volumes.

Spot and derivatives volumes reach 4-week highs to slow recent price declines

Traded volumes in the Australian carbon market saw a robust increase last week (+36% WoW) – holding above 1 million units for the second consecutive week, marking a four-week high in volumes across both spot (1.07M traded) and derivatives markets (425k).

Spot volumes were driven by

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