According to the latest global climate leadership review released by the Climate Institute on Tuesday, Asia now dominates the low-carbon market; thanks largely to the efforts of emerging Asian economies - like Indonesia, Mexico, China, and Turkey - in the direction of reducing carbon emissions for improving environmental conditions.

With the review including 19 countries on the `low-carbon market' list, the top five slots were bagged by France, Japan, China, South Korea and the UK. Special attention has been given to China for its attempts to cut down carbon emissions; with its efforts helping the country move to the third place on the list from the seventh position.

Other than China, Indonesia was one of the survey's biggest movers between 2008 and 2010; with the country notching up to the 14th spot on the list. However, dismally, Australia fell from the 16th spot in the last review to the 17th place this time round; with only two countries, India and Saudi Arabia, below in on the list.

Commenting on Australia's rather weak improvement in low carbon competitiveness, Climate Institute's CEO Jon Connor said that the country's ranking position will apparently not witness any notable improvement until next year.

Connor said: "Australia's fragile improvement in low carbon competitiveness has occurred against a backdrop of delicate but important progress in UN climate negotiations, cuts in clean energy costs, growth in global carbon pricing and other policies and continuing strong investment in clean energy."