Abstract
Alberta's oil sands have become a common target for ongoing activism due to its impact on carbon emissions. Fossil fuel energy will continue to play an important role in the global economy for decades to come, however, we are in an era of energy transition. A path forward needs to recognize that creating long-term value increasingly requires that both the government and private sector understand the impact of their strategies on key stakeholders and the communities in which they operate.
This study examines Alberta's ability to manage environmental, social and governance (ESG) risks as it transitions to a low carbon economy. Through an extensive review of academic and grey literature, and interviews with ESG and sustainability experts in Alberta's energy ecosystem, this project sets out to find how policymakers can embrace ESG principles to help attract investment to Alberta while aligning the province with the Paris Agreement.
The results of this study suggest that Alberta can achieve net-zero emissions by 2050 if policymakers work with the private sector to establish best practices and implement policy recommendations including adopting international frameworks, attaining policy clarity on energy transition, investing in technology and innovation, and creating a compelling story for investment.
