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ASX up, carbon credits failures and 4 other things to start your day

A composite image of the ASX board showing company price changes and a power plant emitting steam.
The ASX is expected to rise this morning as the Albanese Government tries to fix the carbon credits scheme. (Source: Getty)

ASX: The local share market is expected to rise this morning after US stocks made gains overnight.

Carbon credits: There have been mixed responses to a review of Australia's controversial carbon credit unit scheme, with claims it has failed to address serious concerns around integrity. But industry insiders hope it will restore confidence in the market.

The Albanese Government said it accepted 16 recommendations from an independent panel to improve the scheme.

China relationship: China's ambassador to Australia will make a rare media appearance to shed light on the relationship between the two countries.

Xiao Qian will front the press in Canberra today for what could be a continuation of the thawing relationship, coming the week after reports China will resume importing Australian coal for the first time in three years.

WA floods: Desperate residents in a flood-ravaged remote Western Australian town were forced to sleep rough as a flooded runway slowed the delivery of essential aid.

Roads to Fitzroy Crossing remained cut off by flood waters up to 50km wide, with only helicopters and small planes able to land at the airstrip.

Healing: Earth's protective ozone layer is slowly but noticeably healing at a pace that would fully mend the hole over Antarctica in about 43 years, a new United Nations report said.

A once-every-four-years scientific assessment found recovery in progress, more than 35 years after every country in the world agreed to stop producing chemicals that chomp on the layer of ozone in earth's atmosphere, which shields the planet from harmful radiation linked to skin cancer, cataracts and crop damage.

Turtle detectives: Just metres from the Gold Coast tourist strip, loggerhead and green turtles seek out just the right spot in the sand dunes and begin to dig. After depositing their eggs, they carefully cover them over and vanish again into the sea.

The stealthy nocturnal missions are almost always unobserved so it's perhaps no surprise that nesting frequency in the region remains a mystery. But a partnership between Sea World and environmental charity Watergum hopes to change that by turning regular beach walkers into sea turtle spies.

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