Suncor Energy is one of the presenting sponsors at the 2018 B:CIVIC Summit. Join them and other like-minded companies on October 25th.
The following article is by Suncor Energy, B:CIVIC founding member.
This press release was published on July 19th
Suncor releases 2018 Report on Sustainability
All financial figures are in Canadian.
Suncor today released its 2018 Report on Sustainability which details the company’s environmental, social and economic performance. It also includes Suncor’s perspective on the challenges and opportunities of climate change, and the transition to a low-carbon economy. This year’s report is available both online and as a downloadable PDF.
“Canada has the energy the world needs. Our challenge is to continually improve our performance, inspire others to do so and move our products to new customers in new markets in the years ahead,” said Steve Williams, president and chief executive officer. “For a company like Suncor, that means our oil must be globally competitive on cost and carbon. I’m encouraged by the progress we’re making in both of these areas.”
Highlights of the report include:
- CEO message: Steve Williams, president and chief executive officer, reflects on the importance of long-term thinking in response to the social, economic and environmental opportunities and challenges.
- 2018 Climate Report: Suncor has an important role to play in improving environmental performance while delivering energy and shareholder value. This year, the company’s climate report is available within the Report on Sustainability, and as a stand-alone downloadable PDF.
- Updates on our sustainability goals: includes the plans Suncor continues to develop to reduce GHG intensity and strengthen relationships with Aboriginal Peoples in Canada.
- Sustainability Q&A: Eric Axford, EVP and chief sustainability officer, and Arlene Strom, VP, sustainability & communications, discuss the future of sustainability, Suncor’s progress and its integration plan.
- Suncor’s work with communities: the report shares how within Suncor’s vision to be trusted stewards of valuable natural resources, the company is working to build and maintain relationships with local communities, Aboriginal Peoples and stakeholders. The report also includes details on the work of community investment and the Suncor Energy Foundation.
- Focus on innovation: highlights Suncor’s investments in technology development and deployment to improve cost and carbon competitiveness. This section of the report highlights that innovation is not limited to technology. The way the world views energy development has changed, and it takes an innovative approach to find solutions in a collaborative and responsible way.
2017 key statistics and facts:
- Appointed a chief sustainability officer, reporting to the chief executive officer, to enhance the culture of sustainability within the organization.
- Invested approximately $350 million developing and deploying new technologies to optimize current assets and develop next generation facilities.
- Contributed over $2.1 billion in royalties and taxes for governments – revenues that were then available to help fund public sector programs, including education, health care and vital infrastructure.
- Suncor is a signatory to the Boreal Forest Conservation Framework – a national conservation vision developed by 20 First Nations, environmental groups and resource companies
- Over the last 16 years, the company has developed eight wind power projects with a gross-generating capacity totaling 395 megawatts (MW), of which we have retained 111 MW of gross generating capacity.
- Spent $521 million with Aboriginal suppliers across Canada, bringing the total spend to approximately $4.0 billion with Aboriginal suppliers since 1999.
- Through the Suncor Energy Foundation, became a founding partner in the Wood Buffalo Community Foundation.
Suncor’s sustainability reporting journey spans two decades, and this report continues that approach to transparency. It’s one of the ways Suncor measures progress, and continually monitors and assesses the impacts and benefits of its business.