Suncor Energy Inc T.SU

Suncor really does not like being told what to do

[Donwaan]

Suncor fended off duelling investor proposals at its annual meeting yesterday and dealt decisive rejections to both. Intriguingly, although both proposals were about environmental compliance, they came from opposite corners. One called for Suncor to loosen its commitments (scrapping its "net zero by 2050" pledge), while the other demanded a tightening (audited disclosures of "a range of climate transition scenarios"). Suncor did not like either of them. Its circular went into great detail about its rationale -- a reflection of how seriously energy companies are taking these proposals now, three years after a tiny hedge fund's shock victory at Exxon (which was left blindsided by the unseating of two directors) -- but the main takeaway is that Suncor really does not like being told what to do.Instead, Suncor will tell shareholders what it will do -- or so they hope -- when it holds a "business update" webcast on May 21.

[bttmfischer]

Good for Suncor, for not letting "the tail wagging the dog" as it is done in Ottawa, where the NDP is forcing the Libs yo make  decision, so the Libs can stay in power despite they are anything but popular.

[Donwaan]

Could be both Trudeau in Canada and Biden in the US will be re-elected as the majority of Canadians and Americans are concerned about the environment and want these concerns addressed and not ignored. SU and others should be prepared and proactive IMO.

[Marty47]

They won't be re-elected people are more concern to put food on the table and pay their rent , Trudeau is useless , he doesn't have a chance to win again his politic will make canadiens poor and absolutely make no difference on the environment , people just don't get it if we all drive ev ..... emmissions won't be reduced , Trudeau want to stay in power to boost his trust fund ....

[Torontojay]

You are so out of touch with reality.  Nobody likes these clowns but few such as yourself. Is that the right pronoun?   

[Donwaan]

Legalised marijuana, carbon tax...what's not to like? SU is the one with Electric Highway plans and it's 'net zero by 2050' pledge. Ask yourself why are they? As shareholders that is in fact your pledge too.

[Torontojay]

Go watch CNN Don. They have important news they wish to share with you. 

[Experienced]

Donwaan.....the key difference here is that Governments need to butt out and let the business ecosystem and natural market forces work.  In the case of SU, with the electric  highway and net zero (eg the Pathways Alliance), it seems to me that SU has made a business decision that such activities make economic and business sense and that is why they are doing it which is the way it should

[Torontojay]

Well written Experienced!  Great points. 

[newtonboy]

Yes some excellent and some not so good points from both sides of the spectrum on a slow day   I also recall the fear mongering and child perceived horror of those air- raid sirens from the cold war era of the sixties. Being glued to our two and six transitor radios listnening to the Cuban Missel Crisis in the school yards during recess breaks. Not too much has changed in the science of

[Experienced]

newtonboy....hadn't thought of the compensation angle....good one!!

[mrbb]

You're too fawny Don Swan IMO too here