On fronts from climate change to gender and racial equity, Enbridge Inc. has promised to march in step with avowedly “progressive” government and investor agendas for the next three decades.

“The energy industry is in the midst of transition and we recognize the need to adapt to the changing expectations of our customers,” said the annual sustainability report of the Calgary-based pipeline, gas distribution and power conglomerate.

The report commits Enbridge to comply throughout its North American operations with a Canadian government goal of net-zero greenhouse gas emissions by 2050. The Canada Energy Regulator (CER) has made the target a requirement for long-life projects.

On the pipeline side, the rule applies to Enbridge’s own operations but not standards set by...