The federal environment minister said the ruling won’t change the project assessment process.
Investment in the oil and gas sector fell from $76 billion in 2014 to $29 billion in 2022.
The new Act's assessment factors include gender-based analysis and climate change accounting.
Federal Bill C-69 has made the regulatory system for new energy development more complex, uncertain and subjective.
The legislation includes subjective criteria including the “social impact” of energy investment and its “gender implications."
Investment in Canada’s oil and gas sector has declined by 35 per cent.
Ottawa expects firms to commit to things they can’t possibly predict.
Bill C-69 overhauled the entire environmental assessment of major projects and made the regulatory system more complex.
The Alberta government may take an ownership stake in future oil and gas development.
Sixty-five per cent of respondents for Alberta were deterred by the high cost of regulatory compliance.