Suncor releases 2018 Report on Sustainability
19 Julio 2018 - 4:30PM
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.
Legal Advisory – Forward-Looking
InformationThis news release, as well as Suncor's 2018
Report on Sustainability and the 2018 Climate Report to which links
are provided in this news release, contain 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
trend. 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 new release include references to Suncor's GHG goal and social
goal, the belief that Canada has the energy the world needs and
Suncor's role in meeting the challenges associated with that
belief.
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; the performance of assets and equipment; 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
execution of projects; and the receipt, in a timely manner, of
regulatory and third-party approvals.Forward-looking statements 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 2018 dated May 1, 2018 and its Annual
Information Form, Form 40-F and Annual Report to Shareholders, each
dated March 1, 2018, 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 Dow
Jones Sustainability indexes, FTSE4Good and CDP, 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
For more information please contact:
Media inquiries: 403-296-4000
media@suncor.com
Investor inquiries: 800-558-9071
invest@suncor.com
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