Carbon Markets

UPDATE: Traded volumes surge to end the year as positive momentum builds; landmark EU ETS reform

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The Australian Carbon Credit Unit (ACCU) market continued to record week on week gains across key methodologies in both the spot and forward markets, with near-record weekly volumes traded, particularly for Human Induced Regeneration (HIR) and HIR forward contracts. Continued bullish sentiment reflects end-of-year activity from traders, and positive momentum around the January release of the Safeguard Mechanism draft design and the Chubb Review, driving prices to a five-month high. Internationally, voluntary prices reversed course to end the week, helped by the EU’s landmark deal to bolster the coverage and rate of emissions reductions within the EU ETS, along with rules for the phasing in of the Carbon Border Adjustment Mechanism (CBAM).

This report analyses current activity in the Australian and international voluntary carbon markets, including spot and forward price dynamics, and prices by underlying project methodologies. Analysis considers Australian Carbon Credit Units (ACCUs) and voluntary offsets across key international registries including Verra, Gold Standard, the American Carbon Registry, and the Climate Action Reserve.

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