There is unfortunately still a lot of scope to game such a system.
A country can sign up to the carbon pricing scheme, but then subsidise disadvantaged industries by almost the same amount as the carbon taxes they pay. See the EU carbon trading scheme for example - companies are given (for free) credits representing the carbon they emitted in past years.
A multi-country carbon taxation scheme gives every country a strong incentive to either collect the tax badly on their own companies, or make policies to effectively reimburse companies the tax collected.
It's probably still the best approach despite this shortcoming.
A country can sign up to the carbon pricing scheme, but then subsidise disadvantaged industries by almost the same amount as the carbon taxes they pay. See the EU carbon trading scheme for example - companies are given (for free) credits representing the carbon they emitted in past years.
A multi-country carbon taxation scheme gives every country a strong incentive to either collect the tax badly on their own companies, or make policies to effectively reimburse companies the tax collected.
It's probably still the best approach despite this shortcoming.