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Well it's hardly a surprise but the Government's green paper tells us an emissions trading scheme will be costly.It will be inflationary and could push the price of electricity up by as much as 16 per cent. But to ease the pain, the Government has promised compensation for pensioners, motorists and low income households; and assistance for high emitting businesses.The Greens aren't happy, and neither is the Opposition. But the broad outlines of the Governments design to reduce carbon pollution has been welcomed by the business community.

FTSE said that it has teamed up with cleantech-focused investment firm Impax to launch a new index dedicated to tracking investments in alternative energy and energy efficiency, water treatment and pollution control, and waste technologies and resource management.

Meanwhile, NASDAQ OMX Group said last week that it was to introduce a series of Carbon indices designed to both underpin derivatives trading and provide a benchmark for the global carbon market. The company said that the new indices would make it easier for investors to enter the carbon market and gain an accurate picture of how their investments are performing.

Only 36 per cent of the senior executives surveyed were aware the federal government's carbon trading scheme will kick into action in 2010, the Australian Institute of Management, Victoria and Tasmania, (AIM) survey found. Eighty per cent of respondents said they knew very little or were only somewhat aware of the scheme.