Carbon Markets

UPDATE: Prices briefly rally as traders mull the impact of new 20% minimum delivery rule

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Our latest Carbon Weekly report has now been published, reviewing activity in the Australian and international carbon markets for the period 22-26 April 2024.

An announcement from the Clean Energy Regulator (CER) that the Government has adopted a new 20% ‘minimum delivery rule’ for holders of fixed delivery Carbon Abatement Contracts (CACs) sparked the market into action on Friday, with an uptick in activity seeing prices increase, before settling as traders more closely evaluated the impact of the rule on market balance. As noted in our earlier update, while the new minimum delivery rule will tighten the market over the next 3-5 years, we continue to expect CAC deliveries will make up a low proportion of total supply – tempered by significant growth in non-delivery rates (e.g. lapsed/terminated CACs). Following an increase in recent activity, year-to-date volumes have now surpassed the same period last year, despite the market being well off the pace at the end of March.

After RepuTex’s Carbon Weekly report analyses recent activity in the Australian and international voluntary carbon markets, including our ACCU spot price assessment by method, spreads, forward activity, traded volumes, and key market developments. Analysis considers the Australian market along with international registries including Verra, Gold Standard, the American Carbon Registry, and the Climate Action Reserve.

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