Funnel clouds form under rapidly growing clouds or weak thunderstorms, according to the weather agency's website.
"This weak rotation is normally not a danger near the ground. However, there is a chance that this rotation could intensify and become a weak landspout tornado," the advisory said.
"Landspout tornadoes do not usually cause significant damage but can still be dangerous. They can be strong enough to topple trees, damage roofs or toss debris short distances."
While Calgarians took to Twitter to post photos of funnel clouds spotted in the area, Environment Canada said sightings should be "taken seriously."
"Should a funnel cloud develop nearby, prepare to take shelter. These funnel clouds usually appear with little or no warning."
Environment Canada plans to upgrade the advisory to a watch or warning if the weather conditions change.