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In the mid-2000s it seemed that the global carbon market would take off and spark the worldwide transition to a profitable low carbon economy. A decade on, the experiment in carbon trading is failing. Carbon market schemes have been plagued by problems and resistance to carbon pricing has come from the political Left and Right. In the Australian case, a national emissions trading scheme (ETS) was dismantled after a long, bitter public debate. The replacement 'Direct Action Plan' is also in disrepute.

Pricing Carbon in Australia examines the rise and fall of the ETS in...

In the late 2000s climate action became a defining feature of the international political agenda. Evidence of global warming and accelerating greenhouse gas emissions created a new sense of urgency and, despite consensus on the need for action, the growing failure of international climate policy engendered new political space for social movements. By 2007 a climate justice movement was surfacing and developing a strong critique of existing official climate policies and engaging in new forms of direct action to assert the need for reduced extraction and burning of fossil fuels.