Catches rising carbon with the Italian template (7)
I believe the answer is:
stencil
'template' is the definition.
(I've seen this before)
'catches rising carbon with the italian' is the wordplay.
'catches' becomes 'nets' (netting is a kind of catching).
'rising' says the letters should be written in reverse (in a down clue, letters go up).
'carbon' becomes 'C' (chemical symbol).
'with' is a charade indicator (letters next to each other).
'the italian' becomes 'il' (Italian for 'the').
'nets' backwards is 'sten'.
'sten'+'c'+'il'='STENCIL'
(Other definitions for stencil that I've seen before include "Model" , "Sheet with holes used to make ink or paint patterns" , "Perforated sheet for producing patterns or symbols" , "Cut out pattern for painting a design" , "decoration? One must be cut out for it" .)