By Lisa Johnson, The Canadian Press

Provincial Politics

Alberta to insulate AIMCo from liability, companies from greenwashing allegations

Nov 25, 2025 | 4:01 PM

Alberta is moving to insulate its Crown investment corporation from potential legal liabilities and protect companies in the province from lawsuits accusing them of greenwashing.

The proposed legislation from Premier Danielle Smith’s government aims to protect the Alberta Investment Management Corp. — which manages public sector pensions — after it recorded about $2 billion in investment losses in 2020.

Finance Minister Nate Horner says AIMCo has no cash set aside to cover potential liabilities of at least $1.3 billion being claimed by some public sector pensions, and the government isn’t willing to put that cost onto the backs of taxpayers.

After management overhauls at AIMCo, Horner says the investor’s strategy has been “remedied,” and no one with a defined-benefit plan will see their pensions affected.

The bill, if passed, will also shield companies in Alberta from “unfair lawsuits when they make good-faith climate-related financial disclosures.”

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It comes after a shareholder advocacy group filed a complaint with the Alberta Securities Commission earlier this year alleging two of the province’s largest energy companies misled investors in their environmental disclosures.

This report by The Canadian Press was first published Nov. 25, 2025.