Carbon Markets

UPDATE: Trade activity remains elevated with Generic / No-AD prices converging. Is a breakout ahead in 2024?

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Our latest Carbon Weekly report has now been published, reviewing activity in the Australian and international carbon markets for the week 4 – 8 December 2023.

The ACCU market continues to enjoy elevated activity with consistent daily volumes led by ongoing interest in Generic units excluding Avoided Deforestation (No-AD). Brokered ACCU prices saw Generic and Generic No-AD initially converge, before diverging later in the week, while HIR traded up led by heightened activity on Friday. We expect a continued increase in compliance buying to gradually lift prices into 2024. Over time, this will eventually lead to a tightening of the Generic-HIR spread as prices rise, with the timing of compliance buying, and the rate of multi-year purchasing seen as key factors which could lead to breakouts in pricing.

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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