• The ACCU spot price has fallen further to the last closing price of $27.5/tCO2e, a 21% fall since the July update. Credits from nature-based methodologies, such as Human-Induced Regeneration (HIR) are continuing  to be traded at a premium, with HIR trading at $6.25 above the spot price and Savannah burning projects trading at an $11.25 premium.
  • The Queensland Government’s Land Restoration Fund (LRF) has announced the recipients of the second funding round. A total of $11.5 million has been allocated to 5 new projects, which will see the LRF purchase 120,000 ACCUs over the next 15 years. This averages out to approximately $95 of LRF funding per ACCU.
  • Carbon Capture & Storage (CCS) investments have again had attention drawn to their failure to meet pre-determined carbon capture targets. Chevron’s Gorgon CCS project, which was intended to be the largest CCS project in the world, recently  disclosed its failure to meet its targets. The organisation has refused to quantify how far behind on targets they are, but recently was recorded to have purchased 5.23 million tonnes of offsets.

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