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ARTICLE · 24 JANUARY 2023

Energy Security And The Role Of ESG

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There is an opportunity for Canada to use Environmental, Social and Governance (ESG) reporting to differentiate Canadian resources and provide greater global energy security through comprehensive...

CanadaEnergy and Natural Resources
Keely Cameron
Keely Cameron
Nathan Green (Articling Student)
Nathan Green (Articling Student)
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There is an opportunity for Canada to use Environmental, Social and Governance (ESG) reporting to differentiate Canadian resources and provide greater global energy security through comprehensive, verifiable and measurable reporting.

In December 2021, the International Energy Forum reported on a second year of depressed upstream investment in oil and gas and the risk of global supply shortages and recurrent price shocks. Such shortages became a reality in 2022, following the Russian invasion of Ukraine in February, which resulted in a massive destabilization of global energy markets and further strain on already tight supplies in Europe.

It seems almost weekly, we read about rationings, diesel fuel shortages, and with winter upon us, pressure from all around on individuals, businesses and public institutions to lower their thermostats to conserve energy. Shortages impact not only transportation and heating but also the production of petrochemicals used in

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