The federal government will reveal the final plan for its emissions trading scheme by mid December.
Climate Change Minister Penny Wong said the Carbon Pollution Reduction Scheme (CPRS) white paper will be released on Monday 15 December and will include a medium term target range for reductions.
"The global financial situation has heightened the importance of providing business certainty on the scheme," Senator Wong said.
"The Rudd government has heard the calls for certainty from business leaders and that is why we are proceeding to finalise scheme design and get on with the job of putting the scheme in place."
Draft laws will be released in early 2009.
Senator Wong said the white paper would include a "medium term target range for reducing carbon pollution".
She said Opposition calls to delay carbon trading were undermining business certainty and were out of step with community attitudes.
"The opposition is looking for any excuse to delay action on climate change, but Australians understand that the longer we wait, the more it will cost us," Senator Wong said.
The government would take account of international developments in determining the path Australia takes to reduce carbon pollution, she said.
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