Alberta Premier Danielle Smith says Harper is the right person for the job.
“We’re incredibly fortunate that Mr. Harper has agreed to take on this leadership role with AIMCo. Our ambitious goal of building the Heritage Savings Trust Fund to more than $250 billion in the next 25 years requires strong governance oversight, which he will provide. His appointment, and that of the rest of the board, are a strong step forward in giving all Albertans confidence in the long-term sustainability and success of AIMCo.”
Political interference
But nonprofit organization Shift says that Harper’s appointment is “blatant, inappropriate political interference in the governance” of AIMCo and makes it almost impossible for the organization to manage investments amid a “worsening global climate crisis and an accelerating energy transition.”
Shift believes that the change of governance risks the independence of AIMCo and may lead to more capital being directed into oil and gas investments.
“It is critical for Alberta to have an independent public investment manager able to prudently manage climate-related risks and invest for the future with the hard-earned savings of Albertans,” the organization said in a statement. “To do this, AIMCo must have governance that is fully independent from the self-interested whims of industry and government, including a board that is directly accountable to the investment manager’s pension clients, sponsors, beneficiaries and stakeholders, and the freedom to adopt a credible, science-based climate transition strategy for its investments without further political interference.”
