Carbon credits price chart1/19/2024 Chevron is buying ACCUs as well as international credits to offset a $40 million liability from the failure of its Gorgon carbon capture and storage project to meet targets under its licence. He said this trend is likely to further push up prices, supported by increasing investor capital as banks, speculators and trading houses prioritise the low carbon transition. “As companies pursue a net-zero pathway, a carbon ‘supercycle’ is almost inevitable, with voluntary demand to outpace supply, driven by a raft of corporate pledges which have come about at a rapid pace,” said Mr Grossman. Hugh Grossman, RepuTex’s executive director, said the price surge has been driven by the growth in voluntary demand for carbon offsets as companies set net-zero targets responding to pressure from investors and consumers. Prices for ACCUs soared 180 per cent to a record $47 per tonne in 2021, spurring calls on the federal government to stabilise the market by increasing the supply of credits for voluntary buyers.Ĭarbon markets are booming across the globe as companies seek to hit net zero emissions via offsets. Reputex’s bullish outlooks comes amid a booming carbon market. The rising demand from companies under pressure to reduce their emissions has paved the way for a market “supercycle” that could lift Australian Carbon Credit Unit (ACCU) spot prices to $60 a tonne, new research from carbon market consultancy Reputex says. Companies voluntarily buying up carbon offsets amid a flurry of pledges to hit net zero emissions by 2050 have pushed up Australia’s official carbon price by 180 per cent over the past year.
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