Executive Conference

As the world contends with the pressing and urgency of the energy transition, the efficacy of the private sector in driving innovation in the energy sector will be central to achieving net-zero objectives by 2050. However, with increasing regulatory guidelines and complexity making it harder for industries to navigate the regulatory landscape and get projects off the ground, economic and regulatory drivers can be central barriers to realizing and accelerating clean energy projects. Overcoming these hurdles will be key to paving the way for Canada’s sustainable and diversified energy future.

With an abundance of natural resources, including oil and gas, and a diversified energy mix like hydrogen, alternative fuels, and renewables, Canada is poised to play key role in energy security amid increasing energy demand globally. The importance of collaboration among provinces, policymakers, regulators and industry leaders to address energy needs, including electrification, wind and solar development, hydro expansion, and building more gas plants for power and data centers, will be critical for Canada's future, both at home and in global conversations about energy security to ensure that the energy transition happens smoothly and sustainably.

Canada's energy future will be driven by its global customer base, with energy exports playing a pivotal role. While cooperation between Canada, the U.S., and Mexico is essential to align energy strategies and build a secure North American energy framework, Canada's energy market is increasingly interconnected with global dynamics and its role in global energy discussions is set to expand. Additionally, emerging energy markets in the Indo-Pacific region offer strong demand for Canadian energy, driven by both security concerns and sustainability goals. At the national level, bridging the prevailing divide between Western and Eastern Canada’s energy needs and perceptions will be central to developing a unified vision for Canada's energy strategy on the world stage.

Meaningful opportunities for Indigenous participation are a crucial part of an equitable energy transition in Canada. Yet despite initial optimism, substantial systemic change over the past two years remains slow, with ongoing issues prevailing around equalization payments, uncertainty in the Canadian political landscape, the disconnect between Western Canada and Eastern Canada in terms of political representation, the impact of fluctuating energy prices and carbon taxes on First Nations communities. Further, whilst regulatory interventions have historically not been effective there is a critical role for private natural resource industries to boost economic growth and ensure that First Nations are not left behind.

The Canadian energy sector is under pressure to fill the energy talent pipeline. Amid increased energy demand, an aging workforce and negative industry perceptions within younger generations, the Canadian energy sector is expecting to lose a significant portion of its current workforce within the next decade. Furthermore, recent federal government intervention restricting international students may further impair enrollment rates and reduce the number of people entering energy careers. Against this backdrop, collaboration between education, industry and Indigenous communities will be key to finding solutions to these complex challenges, meeting talent demands and ensuring a sustainable energy workforce.

Energy plays a fundamental role in the modern world. As a key economic driver of national economies, the energy sector supports job creation, technological advancements, contributions to adjacent sectors, and overall economic growth. However, generally negative portrayals and a lack of understanding of energy’s central role in Canada’s future standard of living is a significant barrier to the energy transition. Ensuring that the Canadian energy industry is understood in all its complexity, and its critical role in a sustainable and diverse energy future, will be crucial in shifting how the energy sector is portrayed. To engage in the energy transition in a meaningful and unified way, individuals need to have affirm grasp of not just energy sources and distribution but an understanding of the interconnected roles of energy systems and their economic, environmental and social impacts.

Canada lacks a comprehensive discussion around building sufficient and net-zero aligned infrastructure for electrification, including wiring and power generation, while maintaining affordability for Canadians. As the complexity of regulations, need for multiple partners, workforce development and lengthy timelines present a challenging and slow process, there is a need for solutions to bridge the gap between increasing energy demands and insufficient infrastructure to meet those needs, in order to unlock investment for Canadian infrastructure projects to drive progress on energy and decarbonization efforts.

The transformative and disruptive impact of AI on the energy sector cannot be understated, with Canada a leading nation in AI development and research. As the adoption of AI increases, so too does the demand for energy. This adds complexity to the discussion around how industry can continue to leverage AI in their operations to advance the energy transition whilst reducing carbon emissions consistent with global sustainability goals.