I recently had the pleasure of attending the Edmonton chapter’s Association for Corporate Growth (ACG) 2026 conference for the first time. ACG is a business networking organization with 14,500 members across six countries, focused on driving middle‑market growth.

Across a diverse program of speakers and panels, a clear thematic thread emerged: strong governance, dynamic risk management, and values‑driven decision‑making are becoming essential in an increasingly volatile and AI‑shaped world. Below are my reflections from two speakers and one private equity panel.

Stress-testing in a volatile world

James Marple, Senior Economist at TD Bank, emphasized the need for organizations to conduct more frequent, meaningful scenario analysis. In a world defined by geopolitical uncertainty, shifting energy markets, and rapid technological change, boards and executives must adopt a proactive, assumption‑driven approach to risk.

Marple argued that risk assessments and forecasts are only as strong as the assumptions behind them—a point I emphasize in the Climate Risk & ESG for Corporate Governance and Decision‑Making micro‑certificate program I teach. He encouraged leaders to integrate predictive modeling, geopolitical analysis, energy security considerations, and demographic trends into their governance frameworks.

He also highlighted the importance of anchoring long‑term investment decisions in the “economy of tomorrow,” positioning portfolios to withstand short‑term volatility through innovation and forward‑looking strategy. Markets still operate on the assumption that conditions will stabilize, yet boards may soon find that physical climate risks are in fact rather more predictable and relatively straightforward to deal with than geopolitical shocks such as wars or tariffs.

Reframing risk: Private equity’s opportunity mindset

A panel of private equity leaders brought a pragmatic—and surprisingly optimistic—perspective. Terry Freeman, Head of Investments, Private Equity at ATB Financial, suggested that risk committees should reframe themselves as “opportunity committees.”

Some of the opportunities that Canadian businesses can seize were highlighted by Kuba Soltysiak, Director at the Canadian Business Growth Fund, an $545 million evergreen fund which provides long-term capital to mid-market Canadian companies. Soltysiak cited examples such as integrating the mining and production of potash with agricultural supply chains, promoting food security, and reducing dependence on the US. He also talked about the opportunity to invest in metals and strengthen our critical mineral supply chains, to better align metals production with the defence sector and national security needs.

From this panel’s vantage point, Canada should be well‑positioned in a climate‑constrained world. After all Canada has cooler temperatures, abundant natural resources, 20% of the world’s fresh water, and significant mineral and potash reserves.

Boards, therefore, have a dual role: managing risk while also guiding strategy, resilience, and sustainable growth. Clean energy, electrification, and climate‑aligned innovation represent major areas of opportunity.

The “Kitchen Test”: Investing with values and authenticity

Jordan Hokanson, President and CEO of Hokanson Capital, offered a contrasting investment philosophy grounded in enduring demand, simplicity, and authenticity.

His fund focuses on essential themes—food, shelter, water, and energy—and invests in undervalued assets in agriculture, industrial sectors, and real estate. Hokanson avoids highly competitive markets, inflated valuations, and disruptive technologies such as AI and data centres. Instead, he seeks overlooked opportunities, such as multi‑family real estate in Detroit.

Central to his approach is what he calls the “kitchen test”: Can he explain an investment clearly, confidently, and with pride to his family? This principle‑based lens prioritizes clarity, conviction, and long‑term resilience over trend‑driven speculation.

Closing reflections: Different philosophies, shared imperatives

The conference brought together three distinct perspectives: a bank economist, a panel of private equity investors, and the CEO of a family‑owned investment fund. Each reflected their own governance philosophy and investment mandate.

Yet a common message emerged: principles‑based governance and disciplined risk management are essential in navigating the 2026 investment landscape.

• Principles‑based investors can identify market dislocations overlooked by larger players.
• Private equity firms can drive growth through active ownership and strategic integration.
• Banks and institutional investors provide the capital and stability needed to scale innovation.

Together, these approaches form a diverse but interconnected ecosystem—one that will shape Canada’s economic and climate‑aligned future.