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 July edition
Regional carbon markets:
- Australian market: ACCU spot prices held around AU$38.00 for much of July before lifting late in the month, with Generic spots closing at AU$38.25.
- New Zealand market: NZU prices consolidated near NZ$54–55 after June’s rally, supported by expectations of tighter long-term supply, while ETS consultation and future auction settings remained in focus.
- Singapore market: Singapore continued developing the policy frameworks that support carbon credit demand and international supply, including updates to International Carbon Credit guidance and progress on its latest Article 6 procurement process.
- Japan market: Japan’s push to hit its 2030 climate targets through the Joint Crediting Mechanism is being squeezed by strict vintage rules, a tight invalidation deadline, and looming supply shortfalls.
Voluntary carbon market:
- Voluntary demand remained subdued, with buyer interest concentrated in credits carrying recognised integrity credentials and in compliance-aligned credits.
CORSIA market:
- CORSIA Phase 1 eligible supply rose above 40 million tonnes in July, while CP1 spot prices closed the month at US$12.50.
Article 6 markets:
- A grid-connected renewable electricity methodology has been approved for use under Article 6.4’s Paris Agreement Crediting Mechanism (PACM), a notable expansion of eligible activities.
Sustainable Aviation Fuels:
- SAF credit retirement activity rebounded strongly in June, with retired volumes increasing 212% month on month.
