A jurisdictional ESG framework
The Alberta government established an Environmental Social Governance (ESG) Secretariat in May 2021, the first of its kind by any province, to serve as a strategic and coordinating body for all ESG‑related activities across government.
The ESG Secretariat also serves as a clearinghouse for factual ESG data and performance metrics across the province.
Alberta is positioning itself to be a global ESG leader for clean, secure and ethically sourced energy. Recognizing that no globally accepted ESG framework exists at a jurisdictional level, the government has developed a Jurisdictional ESG Framework.
This framework uses other relevant frameworks and UN Sustainable Development Goals as a basis and applies both an ESG and jurisdictional lens to create a framework that considers the particular ESG issues of most importance within a jurisdiction. It will inform policy and identify areas of performance and potential investment based on 13 categories.
ESG criteria are non-financial performance measures that are used with standard financial performance measures to assess the sustainability, societal impact and risk of a particular investment. They influence the decisions of investors, financial institutions and talent on where they direct their resources.
- Environmental examples: emissions management, natural capital conservation, waste management
- Social examples: Indigenous reconciliation, labour standards, gender and diversity
- Governance examples: reporting transparency, democratic, accountable and ethical government, energy security
Alberta’s ESG record: quick facts
Environmental quick facts
- 1st in North America to put a price on industrial carbon
- 95% of oil sands production on pathway to net zero by 2050
- On track to reduce methane by 45% below 2012 levels by 2025
- Largest contiguous area of boreal protected land in the world
- 50% in emissions intensity reduction from agriculture in past 20 years
Social quick facts
- $1 billion to the Alberta Indigenous Opportunities Corporation for Indigenous equity participation
- #1 in social mobility in Canada
- 1 in 5 Albertans is foreign-born
- Over 3,000 tech start-ups, 30% founded by women
- 286,000 Albertans employed in charity/voluntary sector
Governance quick facts
- Democratic, accountable and ethical government
- One of the world’s largest, most comprehensive environmental monitoring programs
- 13% increase in gender diversity on boards of publicly listed companies since 2015
- Alberta Energy Regulator oversees responsible development
- Safe, secure and responsible producer of energy for the world
Note: these lists continually grow and are subject to change.
Investing in 5 key areas
These strategic investments will diversify our economy, reduce emissions and improve energy security.
Leading the world in the development and deployment of a hydrogen economy that leverages our competitive advantages to build clean energy solutions and develop export capacity.
- By 2050: 25% of global energy supply worth $2.5 trillion/year
- Hydrogen is a low-carbon solution for heating (residential and commercial), power generation and storage, transportation, industrial processes and international export
- Alberta is the largest producer of hydrogen in Canada
- We have all the resources, expertise and technology needed to quickly become a global supplier of clean, low-cost hydrogen
- Alberta is investing $50 million to establish Clean Hydrogen Centre for Excellence
See the hydrogen roadmap for more information.
Carbon capture and storage
Leveraging our geological advantages to enable large-scale emissions mitigation through Carbon Capture Utilization and Storage (CCUS).
- CCUS involves capturing carbon emissions, transporting them and either injecting them into underground geological formations that can safely and permanently store the gas, or using them for other processes or in end products
- Alberta has committed $1.24 billion through 2025 to 2 CCUS projects
- These 2 CCUS projects capture emissions equal to 600,000 vehicles per year
- In 2022: Issued 2 requests for full project proposals (RFPP) to develop CCUS hubs
- By 2030: Global CCUS market to reach $9.14 billion*
*Converted from USD to CAD at 1.31 exchange rate, June 2022
See Carbon Capture Utilization and Storage for more information.
Natural gas and LNG
Accelerating the development of natural gas and liquefied natural gas (LNG) capacity that provides affordable, secure and reliable energy to Canadians, while also displacing the use of coal around the world.
- Alberta’s natural gas strategy supports:
- Petrochemical manufacturing and plastics recycling
- LNG and the emerging hydrogen economy
- Industrial uses of natural gas
- See the Natural gas vision and strategy for more information.
- Petrochemicals Incentive Program: $1 billion in grants to diversify Alberta’s natural gas use, create jobs and reduce emissions
- Opportunity to grow Alberta’s petrochemical sector by $30 billion by 2030
- Alberta’s natural gas strategy supports:
Enabling diversified and renewable electricity generation through our open, 24-hour, free market grid.
- Enabling diversified and renewable electricity generation through our open, 24-hour, free market grid
- Alberta is on track to eliminate coal-generated electricity by 2023, 7 years ahead of requirements
- Alberta has significant renewable energy potential and one of the best solar resources in Canada
- Since 2019, Alberta has attracted more than $5 billion for electricity generation projects, including $2 billion for utility-scale renewable projects.
See Net-Zero Emissions Pathways (Alberta Electric System Operator) for more information.
New markets for bitumen
Developing new markets for products from our energy resources that capture the non-combustible chemical value of bitumen.
- Example uses: fossil-based feedstocks, sustainable, high-tech materials like carbon fiber, bioplastics and low GHG cement
- Alberta Innovates’ Bitumen Beyond Combustion (BBC) Program aims to enhance and protect the value and profitability of oil sands operations through collaborative innovation
- $15 billion potential BBC market
- Already over 1,300 jobs in 42 Alberta BBC companies
Alberta: Here for good
Alberta’s ESG leadership will:
- unlock the full potential of our human and natural resources to transform our economy and lead into the future
- strengthen our economy by continually evolving through relentless innovation and ingenuity
- attract those looking for ambitious growth while also pursuing the highest standards of ESG performance
Connect with the ESG Secretariat:
Email: [email protected]