From The Guardian, 4 October 2017:
For a brief and shining moment in 2012, Australia was at the global forefront of climate change action, as one of the first countries to implement a carbon pricing mechanism. It lasted only two years, and was repealed amid much fanfare by the Abbott government in July 2014.
During its time, Australian companies and industries exposed to the carbon pricing mechanism took a long hard look at the emissions liabilities embedded within their supply chains and worked to reduce them.
Barely three years later, Australia is in danger of being the kid that gets picked last for the soccer team. With China set to launch its national emissions trading scheme (ETS) before the end of the year, and several other Asia-Pacific nations either doing the same or already in the game, so-called ‘carbon clubs’ are forming and Australia isn’t invited.
So what will it mean for Australian companies when our biggest trading partner – China – introduces their ETS? Read more.