Suncor Issues Its Annual Report on Sustainability and Climate Report

Rhea-AI Summary

Suncor Energy releases its 2023 Report on Sustainability and Climate Report, highlighting improvements in environmental performance, strong partnerships with Indigenous-owned suppliers, and progress towards net zero emissions by 2050.

Positive

• 13% reduction in freshwater withdrawal since 2018
• 94% water recycle rate for mining and in situ operations
• $3.1 billion spent with Indigenous-owned suppliers (20% of overall spending)
• $540M spent on low-carbon projects in 2022
• Pathway to achieve net zero GHG emissions by 2050

Negative

• None.

NORTHAMPTON, MA / ACCESSWIRE / August 21, 2023 / Suncor Energy

Suncor broke new ground when we first began reporting our sustainability performance in the mid-1990s. Twenty-eight years later, the Report on Sustainability and its companion publication, the Climate Report, continue the practice of disclosing our progress in more than a dozen areas of environmental, social and governance (ESG) performance.

Suncor's 2023 Climate Report and Report on Sustainability are now available.

"We take our performance in environmental, social and governance (ESG) areas seriously. This is why we disclose our sustainability performance every year through these comprehensive reports," says Jon Mitchell, Suncor's Vice President - Sustainability. "The audience continues to grow because a lot of groups important to our company, from Indigenous Peoples to investors to regulators, want to know what we are doing to operate a sustainable business, our efforts to improve and our plans to be successful in a low-carbon future."

The Report on Sustainability covers 19 different ESG areas. Some of Suncor's 2022 highlights include:

Improving environmental performance in 2022

• 13% reduction in freshwater withdrawal since 2018
• 94% water recycle rate for mining and in situ operations
• 1 million tree and shrub seedlings planted
• 362 hectares reclaimed at our oil sands operations

Creating strong partnerships in 2022

• $3.1 billion spent with Indigenous-owned suppliers, which represents 20% of our overall spending on procured goods and services
• 5.4 per cent of Indigenous employees in our overall workforce

Investing in communities and people in 2022

• $40 million contributed to community, charitable and non-profit groups in communities where we operated
• 27% of our employees participated in SunCares, our employee giving program
• More than 105,000 hours volunteered by employees and $6.2 million employee donations to community organizations

The Climate Report charts our progress made on our climate objectives in our strategy. Highlights from this year's report include:

A pathway to net zero

• Achieve net zero GHG emissions in our operations by 2050 and reduce emissions by 10 megatonnes (Mt) across our value chain by 2030. 10 Mt is equivalent to the annual average emissions of 2.3 million Canadian homes.
• $540M spent on low-carbon projects in 2022, in line with our 10% of capital allocation commitment to low-carbon energy
• Became Alberta's 4^th largest electricity operator in 2022 by generating low-carbon power through our cogeneration fleet

Download the 2023 Report on Sustainability and 2023 Climate Report here. Any questions or comments regarding the reports can be sent to sustainability@suncor.com.

Media Contact:
media@suncor.com

Read More

View additional multimedia and more ESG storytelling from Suncor Energy on 3blmedia.com.

Contact Info:
Spokesperson: Suncor Energy
Website: https://www.3blmedia.com/profiles/suncor-energy
Email: info@3blmedia.com

SOURCE: Suncor Energy

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