Australia’s Clean Energy Regulator announced on Tuesday that a total of 7.6 million tonnes of Australian Carbon Credit Units (ACCUs) has been traded through contracts in the auction held in April, with a potential value of 131 million Australian dollars (US$ 98 million).
The abatement would be spread across 25 projects, according to the agency, and would include emissions reductions through revegetation, soil carbon, and industrial efficiency projects.
While the government has offered the highest price ever for carbon offset projects, trading volumes have slumped, well below earlier auctions which regularly secured contracts for 40 million tonnes of carbon credits.
