Continuing more than 25 years of sustainability reporting, Suncor
released its 2021 Report on Sustainability and Climate Report
today. The reports share the company’s 2020 environmental, social
and governance (ESG) performance and highlight key points of
progress in early 2021.
Earlier this year, the company shared its updated
strategy which focuses on increasing shareholder returns while
accelerating its greenhouse gas (GHG) emissions reduction targets,
growing its business in low GHG fuels, electricity, and hydrogen,
sustaining and optimizing its base business and transforming its
GHG footprint to be a net-zero company by 2050 – all enabled by
Suncor’s expertise, long-life resources, integrated business model,
strong connection to customers, and world-class ESG
performance.
“Building on the solid foundation we’ve
established over decades is core to our strategy as we help shape a
profitable and sustainable energy future,” said Mark Little,
President and Chief Executive Officer. “Achieving our shared
economic, climate and social goals demands that we work together
with communities, businesses, governments and organizations. Our
projects and initiatives reflect this approach.”
Both the Report on Sustainability and Climate
Report describe Suncor’s current and ongoing work and provide
insights into future steps that will support the company in
achieving its goals.
Highlights of the Report on Sustainability
include:
- A message from Mark Little, President and Chief
Executive Officer, detailing the company’s evolving
strategy and progress in environmental stewardship, community
relationships and caring for Suncor’s workforce
- A Q&A with Chief Sustainability Officer Martha Hall
Findlay on Suncor’s approach to emissions reductions and
achieving world-class ESG performance
- Examples of how the company is leveraging technology to
reduce environmental impact, with almost 50% of the
$535 million investment in technology
development, deployment and digitalization directed
towards emissions-related technology
- Ways Suncor is working with Indigenous
communities, listening to their feedback and strengthening
relationships, represented by the company’s Journey of
Reconciliation and $911 million (over 10% of supply chain spend)
spent with Indigenous suppliers
- Key progress in water stewardship and tailings
management with recycled water accounting for 92% to 99%
of water use at mining and in situ operations
- Investments in communities, including $36
million in contributions to non-profit organizations and the
creation of the Petro-Canada CareMakers Foundation™ to provide
support to the one in four Canadians who are family caregivers
- Profiles of the diverse and experienced board
as the foundation for sound governance, with 36 per cent female
representation and over two decades of Indigenous
representation
- Review of people-focused efforts, from safety
to mental health, inclusion and diversity, and community
investment
Highlights from the Climate Report include:
- A joint message from Mark Little, President and Chief
Executive Officer, and Alister Cowan, Chief Financial
Officer, discussing Suncor’s response to the climate
challenge, and projects and initiatives on the path to net-zero,
including carbon capture, utilization and storage (CCUS) and the
Oil Sands Pathways to Net Zero alliance
- A summary of low GHG and renewable energy
outputs including 7.66 million megawatt-hours (MWh) of
electricity from low-carbon cogeneration, 96,925 MWh of wind energy
generated and 1,438 million litres of renewable fuels blended
- Reporting on total absolute scope 1 and 2
emissions, and expanding disclosure on scope 3 emissions
and equity-based GHG emissions
- A description of how Suncor helped customers achieve a
reduction of 3.5 megatonnes in emissions in 2020 by
providing low-carbon power, renewable fuels and electric charging
stations
- Insights into scenario planning, including
a 2-degree scenario
The Report on Sustainability and the Climate
Report are both available as downloadable PDFs:
- Download the 2021 Report on Sustainability
- Download the 2021 Climate Report
For an overview of Suncor’s sustainability efforts
and to read the reports, visit sustainability.suncor.com.
Suncor has been named to various Dow Jones
Sustainability Index (DJSI) categories and to the FTSE4Good index.
Bloomberg’s Climate Transition Scores ranked Suncor among the top
10 publicly traded oil and gas companies on preparedness for a
low-carbon world. Suncor was also named as one of the 2020
Corporate Knights Best 50 Corporate Citizens in Canada. The company
was recognized as a leading employer listed among Forbes’ World’s
Best Employers, Alberta’s Top 75 Employers, Canada’s Top 100
Employers and Canada’s Best Diversity Employers. The Report on
Sustainability has previously been a winner of 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 2021 Report
on Sustainability and 2021 Climate 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 royalty rates and tax laws; future production
rates; the sufficiency of budgeted capital expenditures in carrying
out planned activities; the availability and cost of labour and
services; 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: the expectation that Suncor will continue to
increase shareholder returns while accelerating our GHG emissions
reduction targets, growing our business in low greenhouse gas (GHG)
fuels, electricity, and hydrogen, sustaining and optimizing our
base business and transforming our GHG footprint to be a net-zero
company by 2050; the belief that these goals are all enabled by
Suncor’s expertise, long-life resources, integrated business model,
strong connection to customers, and world-class ESG performance;
the belief that Suncor will help shape a profitable and sustainable
energy future; the expectation that Suncor work together with
communities, businesses, governments and organizations to achieve
our shared economic, climate and social goals; and the belief that
Suncor’s current and ongoing work, as well as insights into future
steps, will support the company in achieving its goals.
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 2021 dated May 3, 2021, its Annual Information
Form and Annual Report to Shareholders, each dated February 24,
2021, Form 40-F dated February 25, 2021,and other documents Suncor
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, with a global team of over 30,000 people. Suncor’s
operations include oil sands development, production and upgrading,
offshore oil and gas, petroleum refining in Canada and the US, and
our national Petro-Canada retail distribution network (now
including our Electric Highway network of fast-charging EV
stations). A member of Dow Jones Sustainability indexes, FTSE4Good
and CDP, Suncor is responsibly developing petroleum resources,
while profitably growing a renewable energy portfolio and advancing
the transition to a low-emissions future. 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 and follow us on Twitter @Suncor. Media
inquiries: 403-296-4000 media@suncor.com
Investor inquiries: 800-558-9071
invest@suncor.com
A video accompanying this announcement is available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/a463938c-e717-4c35-95e7-4c26de98f164
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