Australia is poised to develop a carbon emissions trading scheme that could have major implications for businesses and households. With this in mind, NERA hosted a seminar in our Sydney office on 4 March 2008 to discuss the key questions that businesses should address in advance of the introduction of the scheme. Senior Vice President Dr. David Harrison, who heads NERA's Global Environment Group and is an international expert in emissions trading and climate change, provided an overview of the key emissions trading scheme design elements that are likely to be incorporated into the Australian scheme, drawing from his extensive experience in Europe and the United States. His discussion included an overview of a comprehensive framework that can be used to assess the financial impacts of climate change policy on individual companies and industries.