Suncor Energy Inc. has released its 2020 report on sustainability. For 25 years, the company has voluntarily issued an in-depth report on its sustainability performance as part of its commitment to continually monitor, assess and share the impacts of its business.
Strengthening relationships with Indigenous communities, reducing the carbon intensity of barrels produced, implementing new technologies such as autonomous haul trucks, investing in jet biofuels and building Canada's Electric Highway -- these activities offer a glimpse into the sustainable future Suncor is working to embed through its business. The global pandemic has made the connections between environmental, social and economic systems even clearer. Through this challenging time, Suncor's actions continue to be guided by its purpose -- to provide trusted energy that enhances people's lives, while caring for each other and the earth.
"As much as our world has changed through COVID-19, Suncor remains fully committed to our strategy, sustainability leadership and our role in the energy transition to a low-carbon future," said Mark Little, president and chief executive officer. "Our commitment to sustainability is unwavering and continues to be at the heart of everything we do."
The Report on Sustainability showcases Suncor's progress in 2019 and early 2020, and it identifies areas of opportunity in environmental stewardship and working with communities. It also includes the Climate Risk and Resilience Report, which outlines the company's perspective on the challenges and opportunities of climate change and efforts to manage carbon risk.
Highlights include:
A focus on technology and innovation , with investments totaling $830 million in clean technology and processes aimed to reduce greenhouse gas (GHG) emissions intensity and water use
Partnerships with Indigenous communities across Canada, including $836 million spent with Indigenous businesses and suppliers, accounting for 8% of total supply chain spend in 2019
Contributions to global economic prosperity, including $9.9 billion spent on goods and services and $2.6 billion paid in taxes and royalties
Key commitments towards renewable and efficient energy production, including investments in biofuels, and plans to invest $1.4 billion in a new co-generation facility and $300 million in the Forty Mile Wind Power Project
Helping Canadians reduce their carbon footprint through the completion of the country's first coast-to-coast electric highway -- a network of more than 50 fast-charging electric vehicle chargers at Petro-CanadaTM stations
Also in the reports:
A message from Mark Little, president and chief executive officer, about Suncor's role in the future of energy and the company's commitment to sustainability through uncertain times
A Q&A with new chief sustainability officer Martha Hall Findlay on the impact of COVID-19 and Suncor's progress towards its sustainability goals
A message from Alister Cowan, chief financial officer, discussing Suncor's approach to managing carbon risk A look at people-focused efforts, from safety to mental health, inclusion and diversity, and community giving
The Report on Sustainability and the Climate Risk and Resilience Report are both available as downloadable PDFs.
Suncor has been named to various Dow Jones Sustainability (DJSI) indices and to the FTSE4Good index. Suncor was also named as one of the 2020 Corporate Knights Best 50 Corporate Citizens in Canada and was acknowledged as a leading employer, receiving both the Alberta's Top 75 Employer and Canada's Top 100 Employer awards this year. The report issued last year was a winner of Finance Montreal's Finance and Sustainability Initiative award for best sustainability report.