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REVIEW FINDS AUSTRALIA'S CARBON MARKET SCHEME IS SOUND * Independent review finds the ACCU scheme arrangements are "essentially sound" but changes are needed to improve transparency * The six-month review was carried out by an independent panel of four led by former chief scientist Ian Chubb and was ordered after questions were raised over the scheme's integrity * The report recommends changes to clarify governance and enhance confidence in the scheme's integrity and effectiveness * The ACCU scheme has an important role to play in Australia's pathway to net zero emissions by 2050 * The panel found the level of abatement has not been overstated * The Albanese government supports in principle all 16 recommendations * One of the architects of the scheme Professor Andrew Macintosh, whose research triggered the review, is "disappointed" by the findings and said there is a lack of evidence to support them. OTHER MAIN RECOMMENDATIONS: * The purchase of carbon credits be moved from the regulator to another Australian government body to avoid conflicts of interest * Remove unnecessary restrictions on data sharing and give more support to regional communities and First Nations peoples to participate * A new internal body to assure the scheme's integrity.



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