“Working co-operatively and with other provinces, territories and states on the design and implementation of a joint regional market-based multi-sector greenhouse gas cap and trade system, based on real reductions that could be implemented as early as January 1, 2010;
“Facilitating participation and linkages with broader North American and international trading systems, to the extent permitted by applicable provincial, territorial, state and federal laws;
“Providing an intergovernmental forum for collaboration between provinces and territories dedicated to developing and implementing a greenhouse gas cap and trade system in addition to other greenhouse gas emissions reductions policies;
“Recognizing early action in reducing greenhouse gas emissions based on the internationally accepted base year of 1990 for entities owning or controlling covered facilities or sources that have an established and credible record of emissions reductions for those facilities or sources;
“Harmonizing greenhouse gas reporting requirements with other jurisdictions to facilitate the joining of new partners and linkages with other cap and trade systems so that regulated sectors do not face duplicative reporting requirements.”