Change Is The Only Constant: Navigating The Energy Transition And Commitments To "Build Back Better"

COVID-19, plummeting oil prices, economic downturns and a global realization, and desire, that the way in which the world is supplied with, and consumes, energy must undergo a transition from today's model. Over the coming months, Fasken's Global Energy Group, in a series of special bulletins titled "Energy in Transition", will look at the challenges and opportunities facing the global energy sector as the world looks to a green and zero carbon emissions economy.

Even before the COVID-19 catastrophe, fundamental shifts were being experienced in the energy sector. Norway's sovereign wealth fund is divesting from four large Alberta companies involved in the oilsands for reasons apparently relating to the ethical implications of carbon emissions. Enbridge Inc., North America's largest pipeline company, is shifting its asset mix to reflect the energy transition underway by investing increasingly larger proportions of its capital to natural gas and renewable energy