Picking up the pieces after its twice failed efforts on emission trading scheme, the federal government has decided to enlist the collective minds of a multi-sectoral group that would infuse fresh ideas on its climate change policy.

Two roundtables of business executives and non-government organisations were convened by the Labor-led government in an apparent attempt, according to analysts, to stretch the possible ideas to be pitched in on the policy that would eventually set the price on carbon.

Set to be unveiled next year, the policy would be sounded off by the two roundtables though the parliament is tasked to frame the measures with the direct involvement of some coalition and independent lawmakers.

Published over the weekend, the names of 18 business executives included in the roundtable were personalities from giant mining firms, the banking industry and the airline industry. Notable firms were BHP Billiton, Rio Tinto, NAB, Qantas and Woolworths.

Twenty names of labour union leaders and advocacy groups led by ACTU, World Vision and the Coast and Climate Change Council comprised the second roundtable, which along with first group is set to convene at least once a month en route to mustering support on their respective advocacies local constituents.

Specifically, the business roundtable intends to formulate concrete suggestions on the proposed emission trading scheme's impacts on Australia's economy while the non-government council would delve on possible compensations to be required by households and on jobs set to be created by the measure.

Prime Minister Julia Gillard appeared bent on establishing a more solid consensus on the ETS following the two setbacks that the Labor government has seen as she aimed to implement the policy by the mid-part of 2012, mainly meant to insulate the measure from further tinkering come the next election period in 2013.

Federal Treasurer Wayne Swan expressed happiness on the apparent willingness of business leaders to take part in shaping up the climate change policy of the government though he clarified that while "the government takes the views of business seriously but at the end of the day, the government will be making the final decisions in consideration of the national interest."

Also, analysts maintained that involving too many minds and voices on the policy roundtables further enhanced the chance of muting the issues raised against the carbon price by opposition leader Tony Abbot.