To carve out a successful path using policy, we try to imagine and understand what pitfalls and opportunities might be just over the horizon.
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A just transition to net-zero won’t be easy and anyone who claims it will be is either kidding themselves or ignoring the complexities of this challenge. The truth is, net-zero by 2050 is a tall order.
How the federal and Alberta governments can support investment in low-carbon activities that build on Alberta’s strengths
This post is part 3 of 3 exploring sustainable finance, bringing together the perspectives of three of our Core Working Group members: Patrycja Drainville, Chad Park, and Jamie Bonham.
Transition is a sticky word for a lot of people. Add “net-zero” or “pipeline” to the mix and you might even spark a wave of public passion. But emotions are always anchored in something and those relating to Alberta’s energy transition carry no exception.
This post is part 2 of 3 exploring sustainable finance, bringing together the perspectives of three of our Core Working Group members: Patrycja Drainville (Associate Director, Sustainable Finance, Scotiabank), Chad Park (Vice President, Sustainability & Citizenship, The Cooperators), and Jamie Bonham (Director of Corporate Engagement, NEI Investments)
If there was ever any doubt that net-zero finance was the way of the future, former Bank of Canada and Bank of England governor Mark Carney cleared it up in a March 29th tweet. “Huge announcement today that the core of the global asset management industry, managing over $32 trillion in assets, is committing to addressing climate change [and] delivering the goals of the Paris Agreement.” When you start talking about that many trillions of dollars, even the most ardent skeptic is forced to sit up and start listening.
We’re often told that we need to do a better job of telling our stories. There are plenty of narrative opportunities to be explored within the energy sector and yet, despite an emerging consensus around the importance of storytelling, it’s often difficult to identify and breathe life into the stories that shape our companies, technologies or relationships with energy. So in this post, I’ll explore a few practical approaches to storytelling that we can draw on to spark curiosity, empathy and action within Canada’s energy sector.
Alberta’s hydrocarbon sector faced an uncertain future in a world moving towards lower-carbon energy before the pandemic, with existing trends accelerating since March 2020. This uncertainty towards the future of the sector offers both risks and opportunities. The province’s rich natural resource wealth and highly skilled workforce have potential to capture a growing share of the clean technology market, and play a pivotal role in reaching climate targets.
Planning for the future is complicated. We don’t know for sure what the future will look like. That means — and forgive me for being a little nerdy here — defining “future fitness” is a probabilistic question: we have to assess “fitness” across a range of possible futures. At the same time, the future also isn’t entirely out of our control. Policy choices we make now can influence which futures are more (or less) likely to come to pass.
