For the Canada-focused conventional oil and gas developer Calima Energy (ASX:CE1), the tough industry conditions following last year’s oil price collapse posed a glass-half full opportunity to expand its presence in the country’s tier one, environmentally-friendly hydrocarbon provinces. Calima chairman Glenn Whiddon says while fossil fuels have taken a back seat to renewables, Canada has led the world by imposing a price on carbon. The industry itself also abides by the strictest ESG (environmental, social and governance) standards. “If you are going to invest in oil and gas in a cycle where people want to invest in renewables, you can invest in low emission oil and gas assets which are making a difference,” he says.