Australia’s climate change minister announced August 28 that the continent will partially link its carbon price scheme to the European Union’s carbon market by mid-2015 and aim to be fully linked by mid-2018. Companies and organizations covered by Australia’s program can buy European emission allowances now and bank them for use when the scheme transitions from its three-year fixed-price phase to its trading phase in July 2015. Three years later, EU organizations will be able to purchase and use Australian carbon units.