Alberta
Cenovus replies to low-blow from Norway’s trillion dollar oil fund

From Cenovus Energy
Canada targeted (yet again) as a scapegoat for global climate change challenge
Alex Pourbaix, President & Chief Executive Officer, Cenovus Energy
The recent decision by the Norwegian wealth fund, Norges, to pull its investments in Cenovus Energy and three of our oil sands peers is another example of Canada being used as a pawn by institutions attempting to earn climate points. But these announcements are motivated more by public relations than fact. The data they used to assess Cenovus’s greenhouse gas performance is outdated and incorrect.
Here’s what Norges failed to consider in its decision. Cenovus has reduced the emissions intensity of our oil sands operations by approximately 30 percent over the past 15 years. We’ve set ambitious targets to reduce our per-barrel emissions by another 30 percent across our operations by 2030 and hold absolute emissions flat during that time. We are also focused on innovation that will help us achieve our aspiration of net zero emissions by 2050. Our peers have similar emissions reductions achievements and commitments.
The hypocrisy of the move by Norges is particularly rich, given the sovereign wealth fund amassed its $1 trillion value primarily from oil production profits. Moreover, Norway’s former energy minister is on record saying the country will produce oil for as long as oil is used. Energy is important to Norway’s economy, as it is to Canada’s.
The oil and natural gas industry accounts for the largest share of Canada’s exports and is the most significant contributor to the country’s gross domestic product. This country is amassing a huge deficit as a result of the COVID-19 response, with the parliamentary budget officer suggesting our national debt could hit $1 trillion. That’s more than $26,000 for every man, woman and child in Canada. Key to reversing this unprecedented debt load will be secure and stable tax revenue to support the economic recovery. Canada’s energy sector has contributed an average of $8 billion annually to provincial and federal government coffers and its strength is fundamental to ensuring this country emerges from the downturn stronger than ever.
Yet, the Canadian oil sands have become an easy target for primarily European investment firms and insurers who have made a big splash announcing they are severing ties with Canadian companies. Pulling out of the oil sands earns these firms headlines but doesn’t have an impact on their business because most of them were not heavily invested in Canada. Canada’s oil sands have long been the poster child for the anti-oil movement. It’s easier to attack a country that has a regulatory system designed to ensure transparency on its environmental, social and governance (ESG) performance than it is to go after oil producing nations such as Russia and Saudi Arabia where the commitment to regulation and transparency substantially lags Canadian expectations and standards.
As the leader of a Canadian company whose sector contributes billions to the national economy and directly and indirectly employs 800,000 people – including being the country’s largest employer of Indigenous people – I am standing up for our industry and for Canada. Enough is enough with these unwarranted attacks.
Cenovus and our peers are committed to doing our part to help meet Canada’s climate commitments and contribute to global climate change solutions. We’re investing millions in technologies to reduce our own emissions and collaborating with innovators around the world, including the support of initiatives like the NRG COSIA Carbon XPrize, which is focused on solutions to convert greenhouse gas emissions into valuable products and consumer goods.
Canada is the largest oil-producing jurisdiction in the world with a national price on carbon, and Alberta’s cap on oil sands emissions is an unprecedented commitment. Our industry is committed to achieving Canada’s 45 percent reduction target for methane emissions, addressing a greenhouse gas that is more potent than carbon dioxide. If investors are truly concerned about global greenhouse gas emissions, they should place greater value on Canadian oil and natural gas.
The world is undergoing an energy transition as action is taken to limit global temperature rise. Canada’s energy sector is going to play a key role in supporting the transition. But as we see today, energy and economic growth are inextricably linked and even the most aggressive emissions-reduction scenarios recognize that oil and natural gas will continue to be a significant part of the energy mix for decades to come. Canada has the world’s third largest oil reserves and a significant opportunity to provide the world with the low cost, lower carbon energy it demands.
Just as support for a strong energy sector has benefitted Norwegians, it’s essential for Canadians to recognize the importance of Canada’s energy sector in contributing to our collective economic future.
Alberta
Alberta Provincial Police – New chief of Independent Agency Police Service

Sat Parhar has been appointed as the first chief of the Independent Agency Police Service, marking the next step toward a new municipal policing option.
The appointment of a new chief for the Independent Agency Police Service (IAPS) marks the next step in giving municipalities a new option for local policing and builds on the work already underway for the agency to assume the police-like duties currently carried out by the Alberta Sheriffs. The IAPS will empower municipalities to adopt strategies that effectively respond to their specific safety concerns, enhancing public safety across the province.
Chief Parhar brings more than 25 years of policing experience, including senior roles with the Calgary Police Service, most recently as deputy chief. His frontline policing experience and deep understanding of Alberta’s complex and diverse public safety landscape positions him to lead the agency as it takes shape and begins its work as a new municipal policing option, keeping communities safe.
Once operational, the agency will strengthen Alberta’s existing policing model and complement the province’s current police services, which includes the RCMP, Indigenous policing services and municipal police. It will help fill gaps and ensure law enforcement resources are deployed efficiently to meet Alberta’s evolving public safety needs and improve law enforcement response times, particularly in rural communities.
“Appointing Chief Sat Parhar is a key milestone in Alberta’s plan to give municipalities a real choice in how their communities are kept safe. This is about building a modern police service that reflects the priorities of Albertans, strengthens local decision-making, and ensures every corner of our province, especially rural areas, can count on responsive, effective law enforcement. With his decades of experience and deep understanding of Alberta’s policing landscape, he is the right leader to bring this vision to life.”
“This appointment signifies a significant step forward in our efforts to establish a more robust, community-focused policing model that is better equipped to meet the unique needs of our local residents. Under Chief Parhar’s visionary leadership, we are confident that we will develop a modern, efficient police service that not only enhances public safety but also aligns closely with the priorities and values of Albertans. His experience and commitment are vital in shaping an IAPS that is responsive, transparent, and dedicated to fostering trust and collaboration within the community, ultimately ensuring a safer and more connected society for all.”
Chief Parhar’s immediate priorities will be to hire an executive team and commence organizational planning such as developing key recruitment, training and other operational policies. Chief Parhar’s appointment is the first step of many to establishing the IAPS.
“It’s an honour to take on this role and help shape a modern police service built for Alberta. My focus from day one will be on setting high standards for professionalism, building strong relationships with our partners and ensuring this service reflects the needs and priorities of the communities we serve.”
The Independent Agency Police Service was formally created through regulation following the passing of Public Safety Statutes Amendment Act, 2024. The agency will operate as an independent Crown corporation, and will be renamed the Alberta Sheriffs Police Service, with its head office located in Calgary. The IAPS will be operationally independent from the provincial government with civilian oversight, consistent with all police services in Alberta.
“When it comes to policing, municipalities like ours deserve a choice – especially when the current system leaves us disadvantaged simply because of our size. We look forward to learning more about what that alternative will look like once an Alberta police agency is fully established and the options are clear. For us, this is about fairness, sustainability, and ensuring municipalities have access to policing solutions that reflect both their needs and their realities.”
Quick facts
- The regulation establishes the IAPS Provincial Corporation and its governance structure including board of directors, board of director powers, financial responsibilities and accountabilities.
Related news
- Expanding municipal police service options (April 7, 2024)
Alberta
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