Recommendations on principles to guide the implementation of an oil and gas cap

In 2021, the Government of Canada committed to setting a cap on emissions generated by the oil and gas sector at a pace and scale needed to achieve net-zero by 2050, with 5-year targets to stay on track. In this submission, we provide key principles for setting the oil and gas cap, setting the 2025 and 2030 targets, and developing the regulatory pathway to ensure these targets are met or exceeded. We also offer additional considerations on the targets and the regulatory pathway. Finally, we provide a table showing which of the five design values and five design principles articulated by the Net-Zero Advisory Body is captured by each of the principles we propose in this submission.