The key elements in the overall approach to mitigation will be: Using a National GHG Emissions Trajectory Range, against which the collective outcome of all mitigation actions will be measured; Defining desired emission reduction outcomes for each significant sector and sub-sector of the economy based on an in-depth assessment of the mitigation potential, best available mitigation options, science, evidence and a full assessment of the costs and benefits; Adopting a carbon budget approach to provide for flexibility and least-cost mechanisms for companies in relevant sectors and/or sub-sectors and, where appropriate, translating carbon budgets into company level desired emission reduction outcomes. Requiring companies and economic sectors or sub-sectors for which desired emission reduction outcomes have been established to prepare and submit mitigation plans that set out how they intend to achieve the desired emission reduction outcomes. Developing and implementing a wide range and mix of different types of mitigation approaches, policies, measures and actions that optimise the mitigation outcomes as well as job creation and other sustainable developmental benefits. This optimal mix of mitigation actions will be developed to achieve the defined desired emission reduction outcomes for each sector and sub-sector of the economy by ensuring that actions are specifically tailored to the potential, best available solutions and other relevant conditions related to the specific sector, sub-sector or organisation concerned; The deployment of a range of economic instruments to support the system of desired emissions reduction outcomes, including the appropriate pricing of carbon and economic incentives, as well as the possible use of emissions offset or emission reduction trading mechanisms for those relevant sectors, sub-sectors, companies or entities where a carbon budget approach has been selected. A national system of data collection to provide detailed, complete, accurate and up-to-date emissions data in the form of a Greenhouse Gas Inventory and a Monitoring and Evaluation System to support the analysis of the impact of mitigation measures.