China’s emissions trading scheme puts Australian companies on notice

The launch of China's national carbon market could also harm the competitiveness of Australian products

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 It lasted only two years, and was repealed amid much fanfare by the Abbott government in July 2014.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.