Could There be Trouble Ahead for ESG?

BY SHANE WENZEL

Alberta has a long history of challenges to its economy over the years, including shocks in the form of resource price instability, market access constraints and federal energy policies. However, the good news this year is that our province has been singled out as the leader in economic recovery in Canada. Though this could be shortlived with the ever-threatening drive to ‘ESG utopia’ which will undoubtedly move us backwards.

Modern society is admittedly impossible without mass scale production of manmade materials. The materials ranked highest on the scale of necessity are concrete, steel, plastics and ammonia. The necessity of cement and steel speak for itself. But, without ammonia, which deserves the top position as the most important material to feed the world, we could not ensure the survival of billions of people. Farmers are protesting. The key problem is none of these components are easily replaceable.

Plastic alone is produced at nearly 400 million tons annually with thousands of uses, but in particular is indispensable in health care and in our hospitals. Regardless of health care always being one of the top (if not the top) concerns of the mass population, the elimination of plastics still appears to be one of the key targets of our governments.

Single-use plastics such as straws, eating utensils, food containers and plastic bags is one of their first targets. Advocates have gone so far to suggest you could take your own non-plastic cutlery to the food courts along with your non-plastic food containers should you have the need to eat while shopping. And, not to be overlooked is Calgary City Council musing the idea of setting the price of retail products such as paper bags and reusable bags to their list of council duties. That should delight private business owners!

This could be merely my personal opinion but based on the strange illogical actions of many western democratic leaders, it appears they have little concept of the damage their policies are doing to their own people based on a natural or manufactured crises. I won’t suggest utter incompetence at the moment.

While companies scramble to meet all the ESG requirements which is assured to put many of them out of business, some start-up asset management companies citing ‘short-sighted political agendas’ that have caused companies to underinvest in commodities have launched. They are promoting fossil fuel investment to push back against the rules mandating ESG investment. Some major Wall Street banks such as Morgan Stanley and Bank of America concerned about the legal risks of participation have also threatened to leave Mark Carney’s UN climate alliance. Energy companies have been underinvesting due to the mandates leading to shortages and more inflation. The anti-ESG bandwagon is growing!

People are starting to lose trust in public institutions and governments. There is a growing sense that their families will not be better off in the future. They feel betrayed and that the world of their parents no longer exists.

Filling up a tank of gas is agonizing; inflation is at a 40-year high and it is tough to not feel like you are growing older in a country you no longer recognize!

Shane Wenzel is president of the Shane Homes Group of Companies. Follow him @shanewenzel on Facebook, Twitter, LinkedIn, Instagram and YouTube.His column is written for the Alberta Enterprise Group, @AEG on Facebook, Twitter and LinkedIn.

Alicia Bowden teaches elementary physical education at Webber Academy. Ms. Bowden began her personal education journey in her hometown of Saskatoon, where she earned her Bachelor of Education at the University of Saskatchewan. Upon graduating, she relocated to Calgary to pursue her professional career and began teaching kindergarten at an outdoor nature-based school. Ms. Bowden is passionately driven to provide children with unique and meaningful learning experiences. This involves incorporating movement as part of her teachings, which ultimately promotes children’s physical, social, emotional, and intellectual growth.

Ms. Bowden grew up actively engaged in many sports, and she was especially dedicated to dancing, which she did competitively for 12 years. She received numerous gold and silver medals in both solo and group categories. In 2013, Ms. Bowden had the privilege of volunteering in Muizenberg, South Africa, at a local elementary school. During this time, she assisted with daily classroom duties, homework, and organizing after-school group sports, including surfing. While there, she developed an enthusiasm for teaching and a love of learning through movement. She is a compassionate advocate for extracurricular activities and she strongly believes that they encourage greater academic success and overall positive social development.

In her spare time, Ms. Bowden can be found outdoors doing activities such as biking, skiing, and hiking. She also enjoys going to Wakaw Lake, Saskatchewan, to spend quality time with her family. Ms. Bowden looks forward to sharing her knowledge and experience as she begins her new journey at Webber Academy.

Clint Perrett joins Webber Academy as a physical education teacher. He has a passion to see students shine in their sporting endeavours and believes all children should be able to access the knowledge, commitment, and collaboration of working together that is evident in a physical education setting.

Mr. Perrett was born in Melbourne, Australia, and has been involved in sport his whole life in many roles: as a participant, coach, teacher, and interested observer. He has represented his country in championship cross-country and road-running teams, combining his athletic and travel interests as he competed across the world.

Mr. Perrett completed his Bachelor’s Degree of Sports Science (human movement) and went on to complement this with a diploma in education, focusing on physical education and health. He has continued to balance sport and his professional life, having taught for the past 15 years at independent schools in Melbourne, Switzerland, and now Canada. Through these experiences, he has held leadership positions such as the activities and athletic manager, helping build the co-curricular opportunities available to students as well as running regular internal and interschool sports carnivals.

Mr. Perrett has extensive experience and accreditations coaching a variety of sports for various clubs and schools and he looks forward to being involved in the development and success of Webber Academy athletics teams, and physical education classes.