The government's plan under cap and trade, assuming it's implemented, will place a price on carbon for 50% of Canada's emissions. The question is whether that price is sufficient to hit the longer term, the deeper targets. No, it doesn't look like it is, but then again we are 13 years away from 2020, so hopefully one would (a) transition the emission price, the carbon price, that's currently under cap and trade to the broader economy and (b) ramp it up significantly.
On February 6th, 2008. See this statement in context.