Reclamation in Canada’s oil sands is not keeping pace with rapid development and that could leave the public vulnerable to major financial burdens in years to come, a scientific panel said Wednesday.

The study by Royal Society of Canada scientists, the latest report on the effects of the country’s multibillion-dollar oil sands sector, also concluded that governments and regulators are lagging world standards in their ability to oversee the industry and monitor its environmental impact.

“Current government of Alberta policy on financial security for reclamation liability leaves Alberta vulnerable to major financial risks, which are exacerbated by the current state of reclamation, which is not keeping pace with the rate of land disturbance,” the panel said in its report.