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Carbon price slumps, but strong future predicted if offset integrity restored

The price of Australia’s carbon offset units took a dive in the last week as fresh concerns were raised around their environmental integrity, but a leading market analyst predicts positive long-term prospects for the market.

In a market update, analyst firm RepuTex says it observed a significant dip in the market price for Australian Carbon Credit Units (ACCUs), falling almost 15 per cent in the wake of ongoing integrity concerns.

It sees ACCU spot prices fall to around $30 per tonne, back to their pre-election levels, erasing gains observed following the election of the Albanese government.

The fall comes as former chair of the Emissions Reduction Assurance Committee, professor Andrew Macintosh, doubled down on claims of “irrefutable” flaws in the environmental integrity of offsets issued under the ‘Human Induced Revegetation’ methodology.