FOR PEOPLE & PROSPERITY: Working to make life better—in unprecedented times

Annual Report | 2020

1 Policy analysis and action that creates opportunity and builds a sustainable and competitive economy, for today and for tomorrow. MESSAGE FROM THE CHAIR OF THE BOARD Two years ago we officially launched the Business Council of Alberta.

The concept was simple but powerful—to bring together faith in business, and advance the idea that when business the senior leaders of business in Alberta to advise does well, both Albertans and Canadians more broadly governments on policy, and to work together to make life do well. better for Albertans. It’s working. Trust and confidence in Alberta business Two years in, I can say our performance has exceeded increased during the pandemic because business did what expectations. As I write this, approximately 100 of was needed and did it well. Our business leaders put the Alberta’s chief executives from top companies have province first, kept essential services running, kept people signed on to this purpose—to lift their eyes up from the employed, supported public health, and gave of their time challenges of their industry and company and to give of to solve problems and provide sound advice. their time to make life better for the people of Alberta. We’re also building bridges with Ottawa and other That’s what makes this Council so different: the parts of Canada, working to demonstrate that Alberta involvement of you, our members. Every one of you is businesses are fully committed to environment, social, and already incredibly busy leading, in various ways, the most governance performance, and that we can play a lead role significant businesses in our province. It’s also what in reaching Canada’s carbon reduction targets. The reality makes us effective. When business leaders across every is, for the biggest challenges facing Canada—economic sector of the Alberta economy—people with different recovery, carbon reduction, Indigenous reconciliation, interests, and many who spend every day competing Canada’s economic place in the world, and more—the path against each other—come together with a unified voice, to success runs squarely through Alberta. the effect can be powerful. I’m happy to report that we’ve found many receptive Contained in this report are many of the significant ears for these messages. Governments, media, other accomplishments of the past year, including helping to organizations, and the broad public listen when we speak, skill-up the next generation of Albertans, developing a clearly and logically, with the collective weight of Alberta’s policy direction to meet Canada’s energy and business community. environment challenges, helping Alberta recover from Alberta business leaders are by nature pragmatic; we want COVID-19, and many others. Our president, Adam Legge, to find solutions to problems and get things done. The and his team have worked thoughtfully and tirelessly to can-do attitude of Albertans has been on full display in this deliver sound policy recommendations and thought- Council. I can say at the end of this, our second year, that provoking papers in these difficult and unusual times. Alberta is better because it has a business council. Thank In addition, the Business Council of Alberta is focused on you for being part of it. building up the role of Alberta business within Alberta and in Canada —to restore and reinforce the bonds of trust and Hal Kvisle | Board Chair

3 MESSAGE FROM THE PRESIDENT By any measure, 2020 was a challenging and uncertain year—a year that no one could have predicted.

As COVID-19 swept across the globe, it tested nearly »» Recommending a sustainable fiscal model for the every limit and assumption we had about our supply province chains, fiscal capacity, health systems, and human »» Progressing innovation and technology as key pillars resilience. It accelerated trends we were already seeing for Alberta’s future such as the changing workplace, technology disruption, »» Continuing our advocacy on appropriate and workforce transitions. It magnified the inequities implementation of UNDRIP and social issues in our society and economy. In Alberta, »» Advancing the work from our Energy and it devastated an already struggling economy, stretching Environment Committee and the importance of the our industry, government, and policy tools further than we energy and resource sector to Alberta prosperity could have imagined. »» Proposing ideas for a “Made in Alberta” climate plan Yet, amid the chaos and uncertainty, Alberta businesses rose to the challenge, gave greatly, showed hope in »» Undertaking research to create a long-term dark times, and tackled the issues that were of critical prosperity framework for Alberta importance to Albertans including COVID-19 support, In sum, we will continue our work to create the right economic recovery, resource development, climate environment for Albertans to access meaningful jobs action, Alberta’s tech and innovation ecosystem, and and opportunities and build a good life, and to create a workforce development and skills training. competitive and sustainable economy for generations.

It became clear in the early days of the pandemic that it Even though COVID-19 remains the grand challenge of was very important that Alberta have a business council today, we remain extremely bullish on Alberta. to protect and support Albertans and business through a Certainly, the world has changed, but if we know difficult and uncertain time. The leadership, insight, and anything about Alberta, it’s that we have a history of expertise that you, our members, provided was invaluable being the place where big challenges find solutions. to shaping recovery plans and actions. And you have This coming year will be no different: We have the continued to do so since then. natural and human resources, resilience, and resolve to do so again. It is another chance to show the world that As we look for 2021 to be a year of recovery, we need Alberta is just getting started. the right policy tools and actionable initiatives to ensure a healthy and sustainable recovery, and to lay the foundation to build social and economic prosperity for all Albertans. In 2021, our work will focus on: Adam Legge | President

4 AlbertaBETTER: Exploring the big challenges in Alberta and how to build a society where everyone has a chance to prosper AlbertaBETTER was launched in early 2020 to explore the initial impact of COVID-19 on Albertans and our economy. Since launch, we’ve tackled the big challenges that we face as Albertans and Alberta businesses, from economic recovery and diversification, skills development and talent, climate action and energy transition, and more, as well as how we shape our society to build shared prosperity for all Albertans.

Skilled by Design: A strategy for Outlining a blueprint emissions reduction and economic recovery for Alberta’s future The Resource Development workforce in a Low-Carbon Future Task The Task Force on Future Force was established to chart Training & Skills was formed the positive future of Alberta’s to research and recommend natural resource sector to play actions that businesses, a leading role in the transition governments, and post- to a low carbon economy, secondary institutions can working towards net zero, while take to ensure that Albertans building a healthy environment are able to advance their skills, and sustainable economy. The be employed to their fullest summary presentation outlines potential, and contribute to the opportunity, approach, and long-term shared prosperity. various recommendations for The final report outlines a industry and governments to vision for Alberta’s future position Canada as the leader in workforce and the path to get creating the energy, food, and there. The report has received resource systems of the future. very significant attention BCA engaged extensively with and engagement across the federal government on the the province, and BCA was recommendations and continues selected to participate on the to push them forward through Alberta 2030: Building Skills the new Energy and Environment for Jobs Guiding Coalition with Committee. Alberta Advanced Education.

5 BCA Sector Tables: Supporting Innovation Capital COVID-19 response and recovery Working Group: Advancing BCA struck five Sector Tables at the outset of Alberta’s tech and the pandemic to provide industry level insight, innovation ecosystem recommendations, and advice on sector-specific Co-chaired by Adam Legge, BCA issues, support needs, and long-term sectoral President and Joseph Doucet, positioning to the provincial government, in Dean, Alberta School of Business, support of the Economic Recovery Council. The University of Alberta, the Innovation Tables played an invaluable role in several policy Capital Working Group provided a decisions, from getting logistics moving easier, series of recommendations for the to protecting the food supply, and providing Government of Alberta to enable supports to many industries. an attractive environment to create and grow firms and provide the Sector Tables: means necessary for them to unlock • Agriculture & Forestry | Chair, Scott Bolton, opportunities and leverage an President & CEO, UFA Co-operative Ltd. innovation ecosystem. The report • Transportation & Logistics | Chair, Jim included 14 recommendations Landon, President, ATCO Frontec based on three simple ingredients • Real Estate, Construction & Finance | Chair, necessary for success: creating Alan Norris, President & CEO, Brookfield an innovation vision and brand Residential for Alberta; unleashing capital for • Technology, Innovation & Telecom | Chair, entrepreneurs; and developing Mark Blackwell, Partner, Builders VC talent to drive innovation. Many of • Energy Services | Chair, Trevor Haynes, the recommendations have already Chairman & Chief Executive Officer, Black been acted on by the Provincial Diamond Group Government.

Relaunch, Recovery and Beyond: A prosperity framework for Alberta Focused on long-term prosperity and released in June 2020, this framework outlines the key principles, pillars, and outcomes to harness the collective effort of business, government, and other institutions to work towards a new model for the province—one that is more resilient, more sustainable, more inclusive and provides even more opportunity than our past.

Alberta Business Expectations Survey & Alberta Snapshot: A Quarterly Economic Update BCA launched the first-of-its kind Business Expectations Survey, designed to capture the forward- looking perspective and expectations of Alberta’s CEOs on the short-term outlook for the provincial economy. Using this information and synthesizing other economic data, BCA released a bespoke product in Fall 2020 called the Alberta Snapshot, which is a quarterly executive summary of what is happening in Alberta’s economy, from economic activity to business conditions to social well-being.

6 Looking Back

2020 was a busy2020 year for BCA. Members and staff rose to the challenge to provide leadership and hope in an uncertain time; insight into Alberta’s recovery efforts; and support in laying the foundation for a bright, sustainable, and diverse future for Alberta. This is a brief overview of what we accomplished.

COVID-19 Response Competitive & Sustainable Economy

»» Established Sector Tables, which were invaluable to »» Co-Chaired the Government of Alberta Innovation Capital supporting provincial and federal COVID-19 response and Working Group recovery efforts »» Advocated continuously for investments and actions from Recommended implementation of the cattle set aside the provincial government to build Alberta’s emerging program to protect Alberta’s livestock industry. The tech and innovation ecosystem and guided government on program, worth $42 million, was launched in May 2020 many innovation-related decisions

»» Through our UNDRIP Task Force, conducted an analysis of Encouraged the provincial government to maintain UNDRIP’s impact on the energy industry and developed a supply chain efficiency by ensuring access to basic formal submission to the federal government services for truckers and easing certain restrictions. This was completed in April 2020 »» Released our second major Task Force output—Climate Change Action and Post COVID-19 Economic Recovery: Advocated for core support programs for Canadians A Strategy for Emissions Reduction and Economic and business, most notably the expansion of Canada Recovery—which outlines a plan for effective climate Emergency Wage Subsidy, which has been more action while responsibly developing our natural resource important to Alberta than any other province ecosystem, from oil and natural gas to hydrogen and CCUS

Advocated for liquidity support for heavily impacted »» Released a major policy paper highlighting the concerns sectors and provided meaningful critique of the Large and issues in the federal Clean Fuel Standard. The Employer Emergency Financing Facility (LEEFF) subsequent federal climate policy addressed several of program, which remains deeply flawed and we these concerns continue to advocate for focused supports for hard- hit industries such as air travel and tourism Jobs & Opportunity » Launched our first major Task Force report, Skilled by »» Launched AlbertaBETTER, a podcast that explores social Design: A Blueprint for Alberta's Future Workforce: and economic prosperity in Alberta Building the Most Adaptable, Innovative, and Progressive »» Created a steering committee—Alberta Communications Workforce in Canada, assessing the challenges and Executives (ACES)—to help guide and align BCA’s public opportunities in building Alberta’s future workforce and government communications » BCA was invited to be a member of the Government of Alberta Advanced Education's Alberta 2030: Building Skills for Jobs Guiding Coalition

77 Economic Outlook »» Launched the Prosperity Framework for Alberta, a set of 2020 was a principles, actions, and measurements to guide Alberta’s recovery efforts busy year »» Published the Alberta Snapshot, a first-of-its-kind quarterly economic update for Alberta for BCA. »» Launched Alberta’s first-ever Business Expectations Survey, a quarterly survey of Alberta’s business leaders on their expectations for sales and revenue, employment, investments, and overall economic conditions each quarter

»» Gathered insights from business leaders across the province to help understand the challenges and opportunities felt by Alberta business leaders and inform policy opportunities for BCA

Key Publications Alberta’s Next Chapter—2021 and Beyond

» Skilled by Design: A Blueprint for Alberta’s Future COVID-19 stretched our economy, our health system, and Workforce: Building the Most Adaptable, Innovative & our policy tools. The challenges that lie ahead for Alberta are Progressive Workforce in Canada (June 2020) immense, but we believe our future is bright, and that we are

» Strategic. Action. Plan. An Industry Plan to Grow just getting started. We continue to move forward on work we Agriculture & Forestry in Alberta (June 2020) launched in 2020 and begin to advance initiatives that build prosperity for all Albertans. » A Prosperity Framework for Alberta (June 2020) These include: » Exceptional Times; Exceptional Measures: Alberta CEOs on Shutdown Impacts and Future Recovery (Joint report with »» Recommending a sustainable fiscal model orf the province Viewpoint Research, June 2020) »» Advancing innovation and technology as key pillars for

» Innovation Capital Working Group Report and Alberta’s future Recommendations (July 2020) »» Continuing our advocacy on appropriate implementation of

» Alberta Business Expectations Survey Report UNDRIP (October 2020) »» Advancing the work from our Energy and Environment Committee and the importance of the energy and resource » Alberta Snapshot (October 2020) sector to Alberta prosperity » Climate Change Action and Post COVID-19 Economic Recovery: A strategy for emissions reduction and economic »» Proposing ideas for a “Made in Alberta” climate plan recovery (November 2020) »» Undertaking research to create a long-term prosperity

» Getting it Right the First Time: Issues and Options for framework for Alberta Improving the Clean Fuel Standard (December 2020) 2020By The Numbers

COUNCIL MEMEBERS WEBSITE VIEWS NEWS STORIES

OP-EDS REPORTS & POLICY BRIEFS MEMBER & COMMUNITY EVENTS

GOVERNMENT MEETINGS ANALYSIS PIECES WRITTEN LETTERS SENT TO GOVERNMENT OFFICIALS

MEDIA MENTIONS SPEECHES & PRESENTATIONS PODCAST DOWNLOADS By The Numbers Business Council of Alberta Members

Alberta Central Enbridge Inc. Ian Burns, President & Chief Executive Officer Al Monaco, President & Chief Executive Officer Alberta Investment Management Corporation (AIMCo) Enverus Kevin Uebelein, Chief Executive Officer Jim Jarrell, President & Co-Chief Executive Officer AltaLink Canada Scott Thon, President & Chief Executive Officer Kevin Parkes, President AltaML First Industries Corporation Cory Janssen, Co-Founder & Co-Chief Executive Officer David Leeworthy, President & Chief Executive Officer ARC Financial Corp. Fort McKay Group of Companies Brian Boulanger, Chief Executive Officer Sami Saad, Chief Executive Officer ARC Resources Fountain Tire Terry Anderson, Chief Executive Officer Brent Hesje, Chief Executive Officer ATB Hokanson Capital Inc. Curtis Stange, President & Chief Executive Officer Jordan Hokanson, President & Chief Executive Officer ATCO Ltd. Jayman Built Nancy Southern, Chair & Chief Executive Officer Jay Westman, Chairman & Chief Executive Officer Backwoods Energy Services Keyera Corp. Paul Poscente, President & Chief Executive Officer David Smith, Chief Executive Officer Big Rock Brewery Ledcor Group Wayne Arsenault, President & Chief Executive Officer Tom Lassu, President, Ledcor Industries Inc. Birchcliff Energy Ltd. MATCO Investments Jeffery Tonken, President & Chief Executive Officer Ron Mathison, Chairman Black Diamond Group Mawer Investment Management Trevor Haynes, Chairman & Chief Executive Officer Craig Senyk, President & Vice Chairman Boardwalk REIT Melcor Developments Sam Kolias, Chairman & Chief Executive Officer Tim Melton, Chairman Brookfield Residential MGB Investments Alan Norris, President & Chief Executive Officer Michael Broadfoot, Managing Partner Builders VC Modern Resources Mark Blackwell, Partner Chris Slubicki, President, Chief Executive Officer & Director BURNCO Rock Products Ltd. Nutrien Inc. Scott Burns, Chief Executive Officer & Chairman Chuck Magro, President & Chief Executive Officer Business Council of Alberta Ovintiv Hal Kvisle, Board Chair Doug Suttles, Chief Executive Officer Canada Asia Synergy Group Panache Ventures Doug Horner, Chairperson Patrick Lor, Managing Partner Canadian Natural Resources Limited Parkland Corporation Tim McKay, President Bob Espey, President & Chief Executive Officer PCL Constructors Inc. Chris Fowler, President & Chief Executive Officer Dave Filipchuk, President & Chief Executive Officer Capital Power Corporation Pembina Pipeline Corporation Brian Vassjo, President & Chief Executive Officer Mick Dilger, President & Chief Executive Officer Cenovus Energy Inc. Perpetual Energy Inc. Alex Pourbaix, President & Chief Executive Officer Sue Riddell-Rose, President & Chief Executive Officer CompuVision Systems Inc. Precision Drilling Corporation Ryan Vestby, Chief Executive Officer Kevin Neveu, President & Chief Executive Officer Coril Holdings Ltd. Properly Investment Company Ron Mannix, Chairman Emeritus Jim Peplinski, Chairman

2020 ANNUAL REPORT

10 Pureweb Inc. Vermillion Energy Chen Fong, Co-Founder Lorenzo Donadeo, Chairman Questerre Energy Corporation Viewpoint Group / ARC Financial Michael Binnion, President & Chief Executive Officer Mac Van Wielingen, Founder & Chair / Founder & Partner RAM Elevators & Lifts Inc. Waterous Energy Fund Corey Smith, President & Chief Executive Officer Adam Waterous, Chief Executive Officer RGO Office Products West Canadian Digital Imaging Cathy Orr, President & Chief Executive Officer Karen Brookman, President & Chief Executive Officer Rocor Holdings Ltd. Western Financial Group Harold Roozen, President & Chief Executive Officer Kenny Nicholls, President & Chief Executive Officer Rohit Group of Companies WestJet Rohit Gupta, President Chris Burley, Board Chair Sequeira Partners Wood Automotive Group Aroon Sequeira, Chairman Gerry Wood, President & Dealer Principal Zinc Ventures Garth Warner, President & Chief Executive Officer Brad Zumwalt, President Shaw Communications Michael Culbert, Corporate Director Brad Shaw, Chief Executive Officer Jim Davidson, Corporate Director Shell Canada Limited Michael Crothers, President & Country Chair Rick Doman, Corporate Director Spartan Controls Grant Wilde, President & Chief Executive Officer Membership list as of December 31, 2020

Startec Compression & Process 2020 Board of Directors Kristi Cawthorn, Chief Executive Officer Officers: Stone Creek Resorts Hal Kvisle, Chair BOARD OF DIRECTORS Guy Turcotte, Chairman, President & Chief Executive Officer Dawn Farrell, Vice Chair Mac Van Wielingen, Vice Chair Suncor Energy Inc. Nancy Southern, Vice Chair Mark Little, President & Chief Executive Officer Ron Mannix, Vice Chair Officers Sunterra Group Dave Filipchuk, Secretary Art Price, Chairman Aroon Sequeira, Treasurer Superior Lodging Corp. Directors: Marc Staniloff, President & Chief Executive Officer Russ Girling BOARD OF DIRECTORS TC Energy Chuck Magro Russ Girling, President & Chief Executive Officer Judy Fairburn Chris Fowler Directors Telus Navin Arora, President, Business Solutions BCA Staff: The 51 Ventures Inc. Adam Legge, President Judy Fairburn, Co-Founder, Co-Chief Executive Officer Scott Crockatt, Vice President, Communications & External Relations Total E&P Canada Ltd. Mike Holden, Chief Economist & Vice President, Policy Christine Healy, President & Chief Executive Officer Amalia Mettimano, Executive Assistant to the President Brittany Brander, Manager, Communications & Brand Tourmaline Oil Corp. Alicia Planincic, Economist Michael Rose, Chairman, President & Chief Executive Officer TransAlta Corporation BCA Special Advisors: Dawn Farrell, President & Chief Executive Officer Dr. Jack M. Mintz, President’s Fellow, School of Public Policy at the University of Calgary Trimac Transportation Services Peter Tertzakian, Deputy Director, ARC Energy Research Institute Jeff McCaig, Chairman Thomas d’Aquino, CEO, Intercounsel Ltd. UFA Co-operative Ltd. Scott Bolton, President & Chief Executive Officer

2020 ANNUAL REPORT

11 About the Business Council of Alberta

The Business Council of Alberta is a non-partisan and for-purpose organization dedicated to building a better Alberta within a more dynamic Canada. Composed of the chief executives and leading entrepreneurs of the province’s largest enterprises, Council members are proud to represent the majority of Alberta’s private sector investment, job creation, exports, and research and development. The Council is committed to working with leaders and stakeholders across Alberta and Canada in proposing bold and innovative public

policy solutions and initiatives that will make life better for Albertans.

Our Actions Crescit cum commercio civitas. Driven by Purpose • United by Outcome • Daring & Achieving

Crescit cum commercio civitas “Civilization prospers with commerce.”

Business Council of Alberta [email protected] 587.391.0899 1600 • 635 8th Ave SW Calgary AB T2P 3M3