Australian Carbon Credit Units (ACCUs) have seen a significant drop in value after the government announced new changes to the carbon credit scheme earlier this month. Analysts predict that the plunge might last for years.
Angus Taylor, the Federal Minister for Industry, Energy and Emissions Reduction, announced on March 4 that carbon credit creators who have inked contracts with the government would be allowed to breach those contracts and instead sell the credits on the market for a greater price. The decision caused a drop in the price of ACCUs.
