Australia’s carbon trading market has been booming over the past week with traded volumes leaping more than 50%, as big corporates race to secure offsets ahead of Labor’s pending industrial emissions reforms.
The surge in trading activity is a sign of growing confidence in Climate Change and Energy Minister Chris Bowen’s safeguard mechanism changes, which are on track to begin in July, and suggests some investors are betting Ian Chubb’s review of Australian Carbon Credit Units (ACCUs) will erase doubts about the credibility of some credits.