Ambition: With a focus on the capital markets and investors, this initiative looks to enhance the availability of capital for transition-aligned companies and initiatives that meet the goals of protecting employment and attracting capital. It would also open up the possibilities in terms of helping future initiatives find a place in the spectrum of transition.
If successful, this initiative would help identify (and justify) a role for current energy players in the transition (to investors and the public), possibly incent the creation of new vehicles or new definitions for investment that would, for example, find a place or both companies that are looking to actively diversify (or go beyond the barrel) as well as a place for companies to responsibly wind down. All this while dealing with legacy wells and related infrastructure, and could establish a place for new ventures that are utilizing existing skills/infrastructure in a different way (e.g. blue hydrogen, lithium, etc.).
Alberta currently faces an uphill battle in regard to defining its place in the energy transition.
- Challenge of defining transition and getting buy-in from all sides – Government of Alberta needs to be on board, industry needs to be on board, and investors need to be on board
- Charges of greenwashing will accompany anything that is inclusive of the existing Oil & Gas industry
- This area (sustainable finance and ESG investing in general) are moving so fast that the playing field is constantly shifting, making it hard to put a stake in the ground and commit