6.1.1 Setting the performance benchmark - Using the National GHG Emissions Trajectory Range, against which the collective outcome of all mitigation actions will be measured. Section 6.4 contains more information about the emissions trajectory. 6.1.2 Identifying desired sectoral mitigation contribut- ions Defining desired emission reduction economy within two years of the publication of this policy-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. Where appropriate, these desired emission reduction outcomes will be cascaded to individual company or entity level; 6.1.3 Defining Carbon Budgets for significant GHG emitting sectors and/or sub-sectors - Adopting a carbon budget approach to provide for flexibility and least-cost mechanisms for companies in relevant sectors and/or sub-sectors. The initial Carbon Budgets for significant GHG emitting sectors and/or sub-sectors will be drawn up and adopted within two years of the publication of this policy and revised as required based on monitoring and evaluation results, technological advances or new science, evidence and information. A mechanism and process to translate the Carbon Budgets for each relevant sector and/or sub-sector into company level desired emission reduction outcomes will be developed and implemented within three years of the publication of this policy for companies above a minimum emissions threshold. Section 6.5 contains more information about the carbon budget approach. 6.1.4 Mitigation Plans - Requiring companies and economic sectors or sub-sectors for whom 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. 6.1.5 The use of different types of mitigation approaches, policies, measures and actions - 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 best available solutions and other relevant conditions related to the specific sector 6.1