This State of the Debate report marks the conclusion of the National Round Table on the Environment and the Economy (NRTEE)’s Ecological Fiscal Reform (EFR) and Energy Program. It describes the Program’s research findings and details the final recommendations stemming from the stakeholder consultations. The EFR and Energy Program represents the second phase of the NRTEE’s EFR Program. Whereas Phase 1 explored the general potential of economic instruments to advance sustainable development—looking at EFR measures in Europe, the United States and Canada, as well as the use of EFR in specific sectors of the economy—Phase 2 has focused on the use of economic instruments in achieving long-term reductions in greenhouse gas emissions, specifically carbon emissions. Case studies of industrial energy efficiency, renewable energy, and hydrogen technologies.