Suncor today released its annual Report on Sustainability which
details the company’s environmental, social and economic
performance. Suncor’s perspective on the challenges and
opportunities of climate change, and the transition to a low-carbon
economy are contained in its third Climate Risk and Resilience
Report available within the Report on Sustainability and as a
stand-alone downloadable PDF. The annual Report on Sustainability
is available both online and as a downloadable PDF.
Suncor’s sustainability goals reflect focused
efforts on strengthening relationships with Indigenous Peoples and
communities in Canada, and harnessing technology and innovation to
reduce the greenhouse gas (GHG) emissions intensity of its
operations. Driving sustainability performance improvement is
critical to the company’s business strategy, and it’s woven into
the very fabric of the organization. As always, actions speak
louder than words. The Report on Sustainability provides several
examples of these actions.
“We are living in an era of transformation – as
a company, as an industry and as a global community. We have
choices to make about our shared energy future and the role we will
all play in shaping it,” said Mark Little, president and chief
executive officer. “Globally, we are beginning to transform our
energy system toward a low-carbon economy. Suncor is engaged in
this transition and we believe innovation will be critical to our
success.”
Suncor’s sustainability performance
included:
- Technology and innovation: In 2018, Suncor
invested approximately $635 million in technology development and
deployment including digital technologies.
- Partnering with Indigenous businesses: $703
million spent with 83 Indigenous businesses across Canada in
2018.
- GHG performance and mitigating emissions: With
Fort Hills, our newest mining facility, we have deployed extraction
technology that removes carbon from the oil before it is sent to
market.
- Water performance and stewardship:
Approximately 88% of the water used by our mining and extraction
operations in 2018 was recycled tailings water.
The report also provides senior leaders’
perspectives in these areas:
- A discussion about energy challenges and opportunities with
Suncor president and chief executive officer, Mark Little.
- A Q&A with Eric Axford, executive vice president and chief
sustainability officer, on the progress made last year, the
priorities ahead, and the company’s sustainability journey.
Suncor has been named to various Dow Jones
Sustainability (DJSI) indices for 19 consecutive years, as well as
10 consecutive years to the FTSE4Good index. Suncor was also named
to the 2019 Corporate Knights Global 100 index, and the 2018
Corporate Knights Best 50 Corporate Citizens in Canada. In 2019,
Suncor received the Alberta top 75 employer, and Canada top 100
employer awards. Also in 2019, Suncor received Finance Montréal’s
Finance and Sustainability Initiative award for best sustainability
report.
Legal Advisory – Forward-Looking
Information
This news release as well as Suncor's 2019
Report on Sustainability and the Climate Risk and Resilience Report
to which links are provided in this news release, contains certain
forward-looking information and forward-looking statements
(collectively referred to herein as “forward-looking statements”)
within the meaning of applicable Canadian and U.S. securities laws.
Forward-looking statements are based on Suncor’s current
expectations, estimates, projections and assumptions that were made
by the company in light of its information available at the time
the statement was made and consider Suncor’s experience and its
perception of historical trends, including expectations and
assumptions concerning: the accuracy of reserves and resources
estimates; commodity prices and interest and foreign exchange
rates; capital efficiencies and cost savings; applicable laws and
government policies; future production rates; the sufficiency of
budgeted capital expenditures in carrying out planned activities;
the availability and cost of labour, services and
infrastructure; the satisfaction by third parties of their
obligations to Suncor; the development and execution of projects;
and the receipt, in a timely manner, of regulatory and third-party
approvals. In addition, all other statements and information about
Suncor’s strategy for growth, expected and future expenditures or
investment decisions, commodity prices, costs, schedules,
production volumes, operating and financial results and the
expected impact of future commitments are forward-looking
statements. Some of the forward-looking statements and information
may be identified by words like “expects”, “anticipates”, “will”,
“estimates”, “plans”, “scheduled”, “intends”, “believes”,
“projects”, “indicates”, “could”, “focus”, “vision”, “goal”,
“outlook”, “proposed”, “target”, “objective”, “continue”, “should”,
“may” and similar expressions. Forward-looking statements in this
news release include references to Suncor's GHG goal and social
goal and the belief that innovation will be critical to Suncor's
success:
Forward-looking statements and information are
not guarantees of future performance and involve a number of risks
and uncertainties, some that are similar to other oil and gas
companies and some that are unique to Suncor. Suncor’s actual
results may differ materially from those expressed or implied by
its forward-looking statements, so readers are cautioned not to
place undue reliance on them.
Suncor’s Management’s Discussion and Analysis
for the first quarter of 2019 dated May 1, 2019 and its Annual
Information Form, Form 40-F and Annual Report to Shareholders, each
dated February 28, 2019, and other documents it files from time to
time with securities regulatory authorities describe the risks,
uncertainties, material assumptions and other factors that could
influence actual results and such factors are incorporated herein
by reference. Copies of these documents are available without
charge from Suncor at 150 6th Avenue S.W., Calgary, Alberta T2P
3E3; by email request to invest@suncor.com; by calling
1-800-558-9071; or by referring to suncor.com/FinancialReports or
to the company’s profile on SEDAR at sedar.com or EDGAR at sec.gov.
Except as required by applicable securities laws, Suncor disclaims
any intention or obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Suncor Energy is Canada's leading integrated
energy company. Suncor's operations include oil sands development
and upgrading, offshore oil and gas production, petroleum refining,
and product marketing under the Petro-Canada brand. A member of the
Dow Jones Sustainability North America Index, the FTSE4Good index
series, and the Euronext Vigeo World 120 Index, Suncor is also a UN
Global Compact participant and actively responds to CDP’s Climate
Change and Water programs. Suncor is working to responsibly develop
petroleum resources while also growing a renewable energy
portfolio. Suncor is listed on the UN Global Compact 100 stock
index. Suncor's common shares (symbol: SU) are listed on the
Toronto and New York stock exchanges.
For more information about Suncor, visit our web
site at suncor.com, follow us on Twitter @Suncor or
together.suncor.com
Media inquiries:403-296-4000media@suncor.com
Investor
inquiries:800-558-9071invest@suncor.com
Photos accompanying this announcement are available at:
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