Suncor to improve climate change risk, lobbying disclosure
Energy producer says it will provide information about how it expects "to succeed in a low carbon future.''
Oil & Gas
CALGARY — Suncor says it will be provide more information about political lobbying and how it plans to compete under tougher climate-change policy.
The company said the information will be included in its 2016 report on sustainability, to be issued in July.
The move comes as shareholders push for more disclosure at Suncor’s annual meeting later this month.
As part of the changes, Suncor says it will provide information about how it expects “to succeed in a low carbon future.”
It will also publish its policy on lobbying and political donations, as well as list trade associations that lobby governments to which Suncor pays membership dues greater than $50,000 and $100,000 per year.
The company will also continue to disclose its political donations.
Suncor’s annual meeting is set for April 28 in Calgary.
The company’s board and management have recommended shareholders support a resolution from NEI Investments that the company “provide ongoing reporting on how it is assessing, and ensuring, long-term corporate resilience in a future low-carbon economy.”
However, the board and management have recommended shareholders vote against a proposal by a group of shareholders co-ordinated by Sum Of Us, an organization that campaigns for corporate accountability.
That one urges Suncor to report annually on its lobbying policies and procedures, the amount it’s paying and to whom, and its decision-making process and oversight.
© 2016 The Canadian Press