ACCU Market Monthly Update - January 2026

Introduction

This report provides an overview of the month’s Australian Carbon Credit Unit (ACCU) market activity along with key developments and milestones.

‍

Highlights from the ACCU Market Monthly Update for January 2026

• ACCUs began 2026 with modest upward price momentum, despite typically subdued summer liquidity.
• January delivered activity to the nascent SMC market ahead of the impending issuance and forthcoming Safeguard cutoff, as compliance buying persisted into the month.
• Interestingly, where SMCs were previously trading at a discount of more than $0.25 to Generic spot ACCUs, January’s trading saw the spread narrow to parity – a change of $0.20 – across the month.
• As attention turned to upcoming Safeguard compliance deadline and the second tranche of SMC issuances, ACCU prices climbed over the month on moderately higher volumes to the highest levels since early November.
• Changing compliance purchasing patterns smoothed the spike in trade activity seen in late ’24 through to early ’25. The coming weeks, ahead of the 31st March deadline, will tell how much compliance buying is yet to be completed.

‍

Please note: Our in-market team produces daily and detailed updates and trade reports to CORE Markets software subscribers and clients. Contact us to find out more.