The National Round Table on the Environment and the Economy (NRTEE) of Canada completed its study and issued its report entitled, "Getting to 2050: Canada's Transition to a Low-emission Future." The study was undertaken at the request of the Canadian government in Fall 2006. The ultimate goal is to reduce current GHG levels by 65% by 2050. NRTEE adopted three assumptions to guide their study:
1. The overarching objective of the climate change policy should be to contribute to the global goal of climate stabilization,
2. Canada's medium- and long-term emission reduction targets have been defined, and
3. Canada has national economic and environmental circumstances that need to be taken into account in the design and implementation of its climate change and clean air policies.
Based on the findings of the report, NRTEE issued the following recommendations to the Canadian government:
1. Issue an emission tax or a cap-and-trade system or combination of the two.
2. Implement a consistent GHG price signal across the entire Canadian economy.
3. Develop regulatory policies, in conjunction with the emission price signal, to address sectors of the economy that do not respond effectively to the price signal. These policies should also provide for R&D of technologies as well as strategic investments in infrastructure.
4. Establish a Canada-wide plan that establishes better coordination between federal and provincial levels for policies and targets.
5. Adopt GHG emission reduction policies that involve comprehensive management, a built-in monitoring system, and regular assessments to ensure efficiency and effectiveness.
In the report the NRTEE says that putting in place an emission tax requiring emitters to pay based on their actual emission levels would possibly lead to carbon capture and storage.