In 2014, the Alberta Energy Regulator began working with experts at the University of Pennsylvania’s Penn Program on Regulation to launch the Regulatory Excellence initiative to help define regulatory excellence for jurisdictions all over the globe.
Through this initiative, a made-in-Canada model for regulatory excellence was created, which affirms three core attributes in building and preserving public trust, credibility, and confidence.
These core attributes of regulatory excellence – stellar competence, utmost integrity, and empathic engagement – are the central pillars that will place regulators in a favourable position to build and sustain public trust and credibility.
Consistently demonstrating that regulators deliver on their mandates and create pubic value; being competent in our capabilities to ensure that energy development occurs safely and responsibly. This includes organizational and individual competence.
Listening, learning, collaborating, and respectfully responding to the concerns and values of diverse and varied stakeholders, indigenous communities, and the regulated industry.
Achieved by regulators delivering on their mandates in a way that captures the broader public interests of society, which speaks to preserving the integrity and the character of our public institutions.
The pursuit of regulatory excellence is about transforming regulators into trusted organizations that continually improve their work, build strong relationships with stakeholders, and lead the next era in energy regulation.
"A guiding method of conduct – built on the principles of trust, continuous improvement, and knowledge sharing – that facilitates cooperative and collaborative relationships between a regulatory agency and various stakeholders to produce positive outcomes. This is essential to the journey of achieving regulatory excellence."
“The Paris Agreement is changing the energy landscape drastically, with greater focus towards building a low carbon, resilient and sustainable future. To guide this process, joint efforts of upstream regulators will be required. I warmly welcome the ICORE initiative, which will be instrumental in spreading best practices, collaboration and innovation around the globe. Driving international regulatory excellence – by enabling nations, industry leaders, and global citizens – will contribute to responsible resource development.”Dr. Fatih Birol, Executive Director, International Energy Agency