As the world shifts towards lower-carbon energy systems, Alberta faces the challenge of reducing its economic reliance on supplying hydrocarbons for combustion. Alberta has the opportunity to develop new industries which are compatible with climate change targets, but also take advantage of the assets which have developed around Alberta’s hydrocarbon industry, including financial and technical expertise, intellectual property, and infrastructure. There is a diverse range of proposals for prospective future fit hydrocarbon (FFH) industries in Alberta, many of which are already being pursued by federal and provincial government actors.
This policy brief makes the case that federal and provincial governments need to act to encourage investment in FFH industries, and presents a framework for how they might do so. This marketplace framework is based on a rigorous, peer-reviewed Clean Innovation Framework developed by the Smart Prosperity Institute, which identifies how public policies can support the growth and adoption of clean technologies, processes, and business models at various stages of the innovation cycle.
