Business Spectator: With the emissions trading scheme (ETS) shelved, cabinet is expected on Tuesday afternoon to sign off on a fresh approach to address global warming, focusing on renewable energy and energy efficiency. The federal opposition says Labor is likely to copy its climate change policy when cabinet signs off on Prime Minister Julia Gillard’s new direction — possibly as soon as Tuesday. After shelving its emissions trading scheme (ETS) until at least 2013, the government is expected to …