It's a national cap and trade system, albeit a not particularly effectual one that caps emissions intensity rather than emissions per se.
Given Mr. Stelmach's previous remarks re such schemes
"A cap-and-trade scheme is a money transfer that does nothing to reduce pollution. In fact, it just allows companies to pay to pollute."
...his lack of outrage at John Baird's "Turning The Corner" plan is most interesting.
The EcoLibertarian has the best thing I've read on the plan, which he describes as Kyoto-esque.