The Australian government has just announced its Clean Energy Future Plan. This package includes a carbon tax on the 500 biggest emitting companies as well as billions to be invested in renewable energy, energy efficiency and agricultural emission reductions. Households are to be compensated for likely cost increases.

It has proved incredibly controversial across the Tasman in much the same way as New Zealand’s Emissions Trading Scheme did a few years back. Yet the sky did not fall in as a result of the ETS and it is now an established part of doing business here.

What will the package mean for those doing business in Australia? What are the opportunities for investment? And are there new risks that need to be managed?