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When Alberta’s 2021 budget was released late last month, it included the establishment of a $2-million-a-year ESG Secretariat in the premier’s office. This endeavour will collect and promote the province’s gains on environment, social, and governance performance. The point is to boost Alberta’s position as a solid, safe, and consistently high-scoring opportunity for global investment.
Efforts by the province to promote its industry as ethical and environmentally sound aren’t new. But to date, the real work of assessing and improving industry’s performance on ESG metrics has been the domain of the private sector. The entry of the premier’s office onto the field now gives ESG a special resonance at the highest levels of government. It means it is part of a long-term strategy to prove Alberta’s value to investors. But those investors may notice that what’s missing from the strategy so far is a real commitment to climate policy and planning.