Suncor releases 2021 Sustainability and Climate Report
Suncor Energy released its 2021 Sustainability and Climate Report. The reports share the company’s 2020 environmental, social and governance (ESG) performance and highlight key points of progress in early 2021.
Earlier this year, the company shared its updated strategy which focuses on increasing shareholder returns while accelerating its greenhouse gas (GHG) emissions reduction targets, growing its business in low GHG fuels, electricity, and hydrogen, sustaining and optimizing its base business and transforming its GHG footprint to be a net-zero company by 2050.
“Building on the solid foundation we’ve established over decades is core to our strategy as we help shape a profitable and sustainable energy future,” said Mark Little, President and CEO, Suncor. “Achieving our shared economic, climate and social goals demands that we work together with communities, businesses, governments and organizations. Our projects and initiatives reflect this approach.”
Highlights of the Report on Sustainability include:
- Examples of how the company is leveraging technology to reduce environmental impact,with almost 50 per cent of the $535 million investment in technology development, deployment and digitalization directed towards emissions-related technology.
- Ways Suncor is working with Indigenous communities represented by the company’s Journey of Reconciliation and $911 million (over 10 per cent of supply chain spend) spent with Indigenous suppliers.
- Progress in water stewardship and tailings management with recycled water accounting for 92 per cent to 99 per cent of water use at mining and in situ operations.
- Investments in communities, including $36 million in contributions to non-profit organizations and the creation of the Petro-Canada CareMakers Foundation to provide support to the one in four Canadians who are family caregivers
Highlights from the Climate Report include:
- A summary of low GHG and renewable energy outputs, including 7.66 million megawatt-hours of electricity from low-carbon cogeneration, 96,925 MWh of wind energy generated and 1,438 million litres of renewable fuels blended.
- Reporting on total absolute scope 1 and 2 emissions,and expanding disclosure on scope 3 emissions and equity-based GHG emissions.
- A description of how Suncor helped customers achieve a reduction of 3.5 megatonnes in emissions in 2020by providing low-carbon power, renewable fuels and electric charging stations.