Page 43 - InvestinAlberta-EDA-2024-2

OUR WORLD RUNS on energy. From the way we navigate our daily commutes to the supply lines that fill our grocery stores to the grids that keep the lights (and heat!) on during those frigid winters. But just because we need it, doesn’t mean we should accept suppliers and governments who don’t have our, or the planet’s, best interests in mind.
So, let’s just turn off the taps, right? Wrong. While
reducing emissions and greening the energy economy is an important part of a responsible energy sector, studies from
the International Energy Agency show that even with a move towards renewable energy, the world’s need for oil and gas is going to last well past 2050. That means these problems — from pollution to war to human rights — could stick around for decades if we don’t do something about it.
That’s where Canada, and Alberta, comes in.
In 2022, the production value of Alberta’s energy sector was $167 billion. As the fourth-largest oil producer in the world, and one of the only truly democratic nations that can meet global supply demands, Canada has a responsibility — perhaps even a duty — to lead the way as an example of socially and environmentally ethical and responsible energy production.
Here in Alberta, we’re doing just that. Starting by coupling environmental stewardship, with industry know-how.
“Pathways Alliance, a group of Alberta’s six largest oil sands producers, is leading the way with a commitment to reach net zero emissions from operations by 2050,” says Canadian Energy Centre CEO Tom Olsen. “Alberta is also playing a key role in pioneering carbon capture and storage (CCS) technology, a critical innovation in reaching climate targets.”
That commitment to a cleaner industry has been a benefit not just here at home, but on a global scale, with Alberta’s accounting for 15 per cent of the world’s current CCS capacity, despite producing just two per cent of emissions.
But being an ethical role model for the energy industry doesn’t just mean being good environmental stewards, it means looking out for citizens, too and once again, Alberta has been
at the forefront of these efforts, having pioneered the Alberta
“ALBERTA IS ALSO
PLAYING A KEY ROLE
IN PIONEERING CARBON
CAPTURE AND STORAGE
(CCS) TECHNOLOGY, A
CRITICAL INNOVATION
IN REACHING CLIMATE
TARGETS.”
— TOM OLSEN,
CEO, CANADIAN ENERGY CENTRE
Indigenous Opportunities Corporation (AIOC). The AIOC, which provides guaranteed loans for equity deals within the Alberta energy sector, has been so successful, it’s prompted Indigenous advocacy groups to push for similar federal programs.
“We’ve done a lot of work in campaigning for a national loan guarantee program,” says John Desjarlais, the executive director of the Indigenous Resource Network, an organization that advocates for more Indigenous involvement in Canada’s energy economy.
“Access to capital has been a persistent and long-standing issue for Indigenous communities ...” Desjarlais continued. “That’s why a guarantee program, which offers affordable access to capital is an important mechanism.”
And for Desjarlais, that participation allows the industry to tackle the hard work of reconciliation while benefiting all Canadians — and the world.
EMBRACE. ELEVATE. ENVISION.
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