CALGARY, June 18 /CNW/ - Suncor Energy Inc. today announced the release
of its web-based 2009 Report on Sustainability - a comprehensive review of the
company's environmental, social and economic performance for the past two
The seventh biennial report, entitled 'Seeing the Possibilities in a
Changing World,' profiles Suncor's progress on a wide range of sustainability
objectives. For the first time, the report outlines performance goals aimed at
reducing the company's environmental footprint.
"The theme of our report is timely," says Rick George, president and
chief executive officer. "Suncor has always been about seeing possibilities
when others saw only problems and obstacles. Through our focus on operational
excellence, we're targeting improvements in every aspect of our business. And,
with the goals outlined in the report, we're working hard to produce energy
required to fuel our economy in a way that is socially beneficial and
preserves a healthy environment."
Suncor has set the following company-wide environmental performance goals
in relation to its existing assets:
- Reduce water intake by 12 percent by 2015
- Increase land area reclaimed by 100 percent by 2015
- Improve energy efficiency by 10 percent by 2015
- Reduce current air emissions by 10 percent by 2015
All of the proposed reductions are absolute, except for energy
efficiency, which is intensity based (energy used per unit of production).
While the goals will require significant financial and human resources, Suncor
plans to achieve them even while targeting production growth.
The Report on Sustainability also serves as Suncor's 15th annual Climate
Change report, documenting the company's progress in managing greenhouse gas
emissions using its seven-point climate change action plan. The action plan
includes developing renewable energy sources and participating in public
policy discussions. As part of its sustainability commitment, the company
plans to align its current greenhouse gas (GHG) strategy to address emerging
climate change policies by 2010.
Suncor's Report on Sustainability also provides historical performance
trends in a number of key areas. Performance highlights include:
- A 22 percent reduction in absolute water use over the past six years.
- Reclamation of more than 1,000 hectares of land.
- A reduction in GHG emissions intensity at its oil sands plant by 45
percent compared to 1990 levels.
- A reduction in the frequency of Suncor employee and contractor lost-
time injuries by two thirds and a 50 percent reduction in the
frequency of recordable injuries.
- Investment of $24.9 million in 2007 and 2008 by Suncor and the Suncor
Energy Foundation in hundreds of charitable organizations and non-
- Over $13 billion in capital spending in 2007 and 2008. Suncor's
supply chain spending reached all ten provinces and the Northwest
- Achieving a $1 billion spending milestone in Aboriginal goods and
services, including $367 million in 2007 and 2008.
- $2.6 billion in royalty payments to the Alberta government. An
additional $2 billion was paid in property and excise taxes to all
three levels of government.
Suncor compiled the 2009 Report on Sustainability in accordance with the
Global Reporting Initiative G3 Guidelines - an internationally recognized
standard in sustainability reporting. As in previous years, an independent
third party verified a number of performance indicators. Suncor also enlisted
the guidance of Ceres, a network of investors, labour, environmental, and
other public interest groups in developing the report.
The web-based report, which incorporates text articles, photos, data
tables, charts, graphs, and videos of Suncor leaders and stakeholders, as well
as a summary pdf document, is now available at www.suncor.com/sustainability
or by calling 1-800-558-9071. Readers are encouraged to submit feedback on the
report by visiting the website or emailing firstname.lastname@example.org. A printed
magazine-style summary of the Report on Sustainability will be mailed to
stakeholders in late June.
This news release contains forward-looking statements identified by the
words "expects", "anticipate", "will" and similar expressions that address
expectations or projections about the future. The forward-looking statements
and information in this press release are based on certain key expectations
and assumptions made by Suncor, including the receipt, in a timely manner, of
regulatory and third party approvals in respect of the proposed merger.
Although Suncor believes that the expectations and assumptions on which such
forward-looking statements and information are based are reasonable, undue
reliance should not be placed on the forward-looking statements and
information because Suncor can give no assurance that they will prove to be
correct. Readers are cautioned that the foregoing list of factors is not
exhaustive. Additional information on these and other factors that could
affect the operations or financial results of Suncor or the merged company are
included in reports on file with applicable securities regulatory authorities
and may be accessed through the SEDAR website (http://www.sedar.com/), the
SEC's website (http://www.sec.gov/) or at Suncor's website
Suncor Energy Inc. is an integrated energy company headquartered in
Calgary, Alberta. Suncor's oil sands business, located near Fort McMurray,
Alberta, extracts and upgrades oil sands and markets refinery feedstock and
diesel fuel, while operations throughout western Canada produce natural gas.
Suncor also operates a refining and marketing business which includes
refining, retail, pipeline and distribution operations in Ontario, Canada and
in Colorado and Wyoming in the United States. Suncor's common shares (symbol:
SU) are listed on the Toronto and New York stock exchanges.
Suncor Energy (U.S.A.) Inc. is an authorized licensee of the Shell(R) and
Phillips 66(R) brand and marks in the state of Colorado. Sunoco in Canada is
separate and unrelated to Sunoco in the United States, which is owned by
Sunoco, Inc. of Philadelphia.
For further information:
For further information: about Suncor Energy Inc. please visit our web
site at www.suncor.com; For media inquiries, contact Shawn Davis at (403)