Economists recommend governments adopt market-based climate change policies due to their cost-effectiveness. However, the use of negative emissions technology may benefit from—or even require - additional policy. This activity has three goals: (1) provide a theoretical framework for cost effective policy for negative emissions, with a special focus on technologies using geological formations for storage, (2) conduct an evaluation of pre-existing policies that are close to cost-effective, to estimate their strengths and weaknesses, and (3) translate results into policy options for the Canadian context.