Reuters: Australia would take action on climate change when the economy was ready, but would not set up a carbon emissions trade scheme until after 2012 at the earliest, Prime Minister Julia Gillard said on Friday. Announcing her climate policy ahead of Australia’s August 21 elections, Gillard stood by a government decision in April to defer the emissions trade scheme until at least the end of the current Kyoto Protocol period in 2012. Gillard also announced a new 150-member body would …