The Office of the Superintendent of Financial Institutions has released guidelines for financial institutions to address climate change risks. THE CANADIAN PRESS/Nathan Denette

OSFI’s new guidelines: A step toward making banks and insurers more conscious of their climate impacts

OSFI’s guidelines are a small step towards making financial decision-makers more conscious of their influence on climate outcomes, but there is still work to be done.
A pumpjack draws out oil and gas from a well head near Calgary in October 2022. There are thousands of inactive oil and gas wells in the province that have not been properly decommissioned. THE CANADIAN PRESS/Jeff McIntosh

Despite soaring profits, oil companies are not paying enough for their environmental damage

The Alberta government is failing to ensure environmental liabilities are adequately accounted for and that progress is being made to address the province’s massive tailings ponds.
Alberta Premier Jason Kenney and Minister of Finance Jason Nixon, then Minister of Environment and Parks, chat before the throne speech is delivered in Edmonton in May 2019. THE CANADIAN PRESS/Jason Franson

A provincial sales tax is the solution to Alberta’s fiscal roller‑coaster

A sales tax — a tax that’s stable, easy to administer and costs less to collect than income taxes — would stabilize Alberta’s volatile roller-coaster economy.
Alberta’s approach to fiscal management involves a nauseating cycle of big spending followed by massive cuts — almost entirely due to the outsized influence of oil and gas revenues. The rollercoaster at the West Edmonton Mall is seen in this photo. (Jerry Bowley/Flickr)

Alberta budget means Albertans are trapped on a relentless fiscal rollercoaster ride

Every time Alberta’s energy-based economy goes into a tailspin, it’s because the price of oil has declined precipitously, and when it booms, it’s because the price has soared.

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