ACCU Market Monthly Update - February 2026

Introduction

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

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Highlights from the ACCU Market Monthly Update for February 2026

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• Muted trading conditions persisted into February, with total volumes holding steady at around 2.5 million units across spot, forward and derivatives trading.
• Spot Generic and No Avoided Deforestation ACCUs fell $1.75 month-on-month to a 70-day low of $36.10 at February’s close.
• Safeguard Mechanism Credit (SMC) volumes surpassed the previous monthly record in February, with 290k units traded ahead of the upcoming surrender deadline.
• The Clean Energy Regulator projects annual ACCU issuance of 22–26 million in 2026, while declining Safeguard baselines are expected to see compliance demand outpace annual supply later this decade.

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