This update provides a summary of key developments across global compliance and voluntary carbon markets, and emerging environmental markets. It draws on select data, commentary and insights available in full in the Carbon Intelligence Package.
Highlights from the May edition
Select regional carbon markets
- Australian carbon market: ACCU prices firmed through April despite softer post-compliance volumes, with selective buying and policy reform supporting sentiment.
- New Zealand carbon market: NZU prices rose sharply in April as tightening supply expectations, lower holdings and weaker forestry issuance supported the market.
- Singapore carbon market: Singapore’s latest carbon tax revenue projections highlighted how the carbon cost faced by emitters can sit below the headline rate in practice, while new bilateral discussions with India reinforced the country's Article 6 ambitions.
Voluntary carbon market
- Voluntary carbon market activity remained differentiated, with stronger signals in some compliance-linked segments but broader uncertainty still shaping sentiment and demand.
CORSIA market
- CORSIA conditions remained mixed in April, with eligible supply expanding, early airline retirements continuing, and policy uncertainty still shaping confidence ahead of Phase 2.
Article 6 market
- Article 6 activity continued to broaden in April through new bilateral agreements across multiple jurisdictions and wider progress on authorisations, regulatory frameworks and implementation pathways.
Australian biodiversity market
- Two consultations advanced in April, pointing to a more integrated and higher-integrity biodiversity market, with proposed reforms aimed at making certificates more usable, comparable and credible.
Sustainable Aviation Fuel credits:
- SAF credit activity slowed in April, with retirements easing from March and the market still shaped by tight physical supply, high costs and evolving policy frameworks.
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