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.
October across global environmental markets
- Australia. Generic ACCUs fell to a monthly low of AU$37.70 amid record issuance, subdued purchasing and Safeguard Mechanism Review uncertainty.
- New Zealand. NZUs fell to a monthly low of NZ$47.75, with participants pointing mainly to election uncertainty.
- Singapore. The government opened project applications under its Implementation Agreement with Mongolia and expanded tax deductions for credits retired against voluntary commitments.
- Japan. A government subcommittee proposed triggers for GX-ETS price-stabilisation measures, including a price ceiling levy.
- CORSIA. Phase 1 eligible supply rose by around three million credits to above 47 million, per ICAO data, moderated by a reduction in ART TREES issuance stemming from over-crediting.
- Voluntary carbon market. Gold Standard issuance exceeded retirements by 17.43 million credits, a year-to-date high, while the opposite is the case for Verra where retirements exceeded issuance.
- Article 6. The Supervisory Body adopted two clean cooking methodologies and new requirements on reversal risk.
- SAF credits. Retirements covered 30,441 tonnes of Sustainable Aviation Fuel, around 98,692 tCO₂e of abatement.
