Query: Julia Gillard her decision not to argue against a fixed carbon price being labelled a "carbon tax" hurt her terribly politically.

Relevant passages:
Julia Gillard <=SEP=> Julia Eileen Gillard , ( born 29 September 1961 ) is a former Australian politician who was the 27th Prime Minister of Australia from 2010 to 2013 , as leader of the Australian Labor Party . She was previously the 13th Deputy Prime Minister of Australia , and held the cabinet positions of Minister for Education , Minister for Employment and Workplace Relations and Minister for Social Inclusion from 2007 to 2010 . She was the first and to date only woman to hold the positions of deputy prime minister , prime minister and leader of a major party in Australia .   Born in Barry , Wales , in the United Kingdom , Gillard migrated with her family to Adelaide , South Australia , in 1966 . She attended Mitcham Demonstration School and Unley High School . Subsequently , Gillard studied at the University of Adelaide , but cut short her courses to move to Melbourne , Victoria , in 1982 , where she worked with the Australian Union of Students and was the organisation 's president from 1983 to 1984 . Gillard later graduated from the University of Melbourne , with a Bachelor of Laws degree ( 1986 ) and a Bachelor of Arts degree ( 1989 ) . In 1987 , she joined the law firm Slater & Gordon and became a partner in 1990 , specialising in industrial law . A departure from the law firm in 1996 saw Gillard serve as chief of staff to the Leader of the Opposition in Victoria John Brumby , which preceded her own entry into federal politics .   Gillard was first elected to the Australian House of Representatives at the 1998 federal election for the seat of Lalor . Following the 2001 federal election , she was elected to the Shadow Cabinet and was given the portfolio of Population and Immigration . In 2003 , she took on the responsibility for both Reconciliation and Indigenous Affairs and Health . In December 2006 , when Kevin Rudd was elected as Labor Leader and became Leader of the Opposition , Gillard was elected unopposed as his deputy . Upon Labor 's victory in the 2007 federal election , Gillard became the first female Deputy Prime Minister of Australia , and held the cabinet portfolios of Minister for Education , Minister for Employment and Workplace Relations and Minister for Social Inclusion . On , after Rudd lost the support of his party and resigned , Gillard was elected unopposed as the Leader of the Labor Party , thus becoming the 27th Prime Minister of Australia . The subsequent 2010 federal election saw the first hung parliament since the 1940 federal election . Gillard was able to form a minority government with the support of a Green MP and three independent MPs . On 26 June 2013 , after a leadership spill , Gillard lost the leadership of the Labor Party to Rudd . Her resignation as Prime Minister took effect the following day . Gillard retired from politics on 5 August 2013 , before the impending federal election .   Following her departure from politics , in August 2013 Gillard became an honorary visiting professor at the University of Adelaide , and a nonresident senior fellow at the Brookings Institution 's Center for Universal Education in October . Gillard released her political memoirs , My Story , in September 2014 . She has been on the board of the mental health organisation beyondblue since December 2014 , and was made an honorary fellow of Aberystwyth University in June 2015 . In addition to her various appointments , Gillard has served as the chairwoman of the Global Partnership for Education since February 2014 .

Emissions trading <=SEP=> Emissions trading or cap and trade is a government-mandated , market-based approach to controlling pollution by providing economic incentives for achieving reductions in the emissions of pollutants . In contrast to command-and-control environmental regulations such as best available technology ( BAT ) standards and government subsidies , cap and trade ( CAT ) schemes are a type of flexible environmental regulation that allows organizations to decide how best to meet policy targets . Various countries , states and groups of companies have adopted such trading systems , notably for mitigating climate change .   A central authority ( usually a governmental body ) allocates or sells a limited number of permits to discharge specific quantities of a specific pollutant per time period . Polluters are required to hold permits in amount equal to their emissions . Polluters that want to increase their emissions must buy permits from others willing to sell them . Financial derivatives of permits can also be traded on secondary markets .   In theory , polluters who can reduce emissions most cheaply will do so , achieving the emission reduction at the lowest cost to society . Cap and trade is meant to provide the private sector with the flexibility required to reduce emissions while stimulating technological innovation and economic growth .   There are active trading programs in several air pollutants . For greenhouse gases , which cause climate change , permit units are often called carbon credits . The largest greenhouse gases trading program is the European Union Emission Trading Scheme , which trades primarily in European Union Allowances ( EUAs ) ; the Californian scheme trades in California Carbon Allowances , the New Zealand scheme in New Zealand Units and the Australian scheme in Australian Units . The United States has a national market to reduce acid rain and several regional markets in nitrogen oxides .