Australia's parliament rejected a plan for the world's most ambitious emissions trade regime as expected last week, bringing the nation closer to a snap election and prolonging financial uncertainty for major emitters. Conservative lawmakers holding the largest block of votes in the Senate joined with Greens and independents to defeat the Carbon Pollution Reduction Scheme set to start in July, 2011 and aimed at reducing emissions in the biggest per-capita emitter in the developed world. But the government renewed its pledge to push through the scheme before a December UN meeting in Copenhagen. (Reuters)

    About the author