Investing in a low carbon future

Alberta is a leader in energy decarbonization, having made strides in reducing the carbon intensity of its electricity grid as well as its oil and gas sector. This is being achieved through a series of targeted reductions, a transition away from coal, the development of world-scale renewable energy projects, and investment in a growing carbon capture, use and storage (CCUS) industry.

By 2023, power generation in Alberta will be coal free and the electricity grid will produce roughly 20 megatons of GHG emissions a year — less than half the 2015 level.

The province’s deregulated market ensures that Alberta remains a low-cost electricity jurisdiction throughout this transition.

Alberta’s market-based grid and unique geography make it an attractive setting for utility-scale wind and solar projects and allows companies to purchase renewable electricity at a competitive rate.

Alberta is home to the third largest oil reserves in the world, 70% of the marketable natural gas in Canada and critical minerals including lithium and magnetite.

Alberta’s supply of natural resources is vast and reflects a low-cost basin tested through multiple commodity cycles. The strong commitment to environmental, social and governance (ESG) throughout the established energy sector provides investment opportunities, including clean technology and environmental services related to decarbonization.   

Alberta was the first regional government in North America to commit to a methane emissions reduction target for the oil and gas sector. Through regulatory changes and investments in technology and innovation, Alberta’s oil sands producers reduced GHG emissions intensity by 22% since 2011.

Alberta’s decarbonization efforts are bolstered by a large pool of talented researchers, technical professionals and entrepreneurs who understand the oil and gas industry and its needs.

A pioneer in CCUS, Alberta is leveraging its expertise and existing facilities and infrastructure to expand into low-carbon petrochemical products, such as blue methanol and blue hydrogen.

Alberta is home to two of the world’s 18 large-scale projects. The newest, the Alberta Carbon Trunk Line, can sequester 14.6 million tonnes of CO2 per year. The captured carbon is used to produce blue hydrogen and for enhanced oil recovery.

Alberta’s extensive oil and gas infrastructure also allows the province to produce blue hydrogen at a lower cost than any other jurisdiction in the world.

An abundant supply of low-emission blue hydrogen and a number of support programs makes Alberta a competitive choice for hydrogen projects, like the $1.3-billion plant announced by Air Products and Chemicals Inc.