The voluntary market for Australian carbon credits has grown steadily over the last few years, with around 475,000 units voluntarily cancelled in 2019. Since then, the market has doubled in size, with more than 950,000 units voluntarily cancelled in 2021.
The Regulator also confirmed it would continue to run auctions for the purchase of ACCUs, with the next scheduled for April. However, projects participating in the auction will likely pursue ‘optional delivery’ contracts which still allow ACCUs to be sold into the open market without the need to pay a contractual penalty.