President & Chief Executive Officer, Suncor
Chief Sustainability Officer, Suncor
2023 marks the release of Suncor’s 28th Report on Sustainability and 7th Climate Report, underscoring the company’s longstanding commitment to transparently provide progress on its environmental, social and governance (ESG) efforts.
Every year Suncor discloses its performance through two comprehensive publications – its annual Report on Sustainability and Climate Report.
“There is an increasing focus on these reports, particularly from our financial partners including investors, bankers and insurers. They want to know about our performance, our ambition and our plans for a low-carbon future,” says Rich Kruger, President and Chief Executive Officer at Suncor.
Accountability to ESG commitments
The Report on Sustainability and the Climate Report are must-reads to better understand Suncor’s dedication towards a more sustainable future. The Report on Sustainability provides detailed data and context on its ESG performance in 19 areas. It includes year-over-year data charting performance in those areas. Suncor’s Climate Report reflects its plans, performance and progress on its strategy for the decarbonization of its core business and expanding its energy offerings.
There is an increasing focus on these reports, particularly from our financial partners including investors, bankers and insurers.
Suncor is committed to sustainability leadership and positioning itself to succeed in a low carbon future. The company aims to be a net-zero company by 2050 and has set a goal to achieve 10 megatonnes of annual emissions reductions by 2030 across its value chain. This year, the company’s Climate Report describes how several components that anchor these plans are taking shape – including their carbon capture and storage projects and how the company plans to succeed through collective and Suncor-specific action.
“Suncor’s sustainability disclosure reflects our willingness to be held accountable for our performance in areas of significant importance to stakeholders and communities,” says Arlene Strom, Chief Sustainability Officer at Suncor.
2022 ESG Highlights
94% water recycle rate at our mining and in situ operations
1 million tree and shrub seedlings planted
$3.1 billion spent with Indigenous-owned businesses representing 20% of our overall spending of procured goods and services
$40 million contributed to community, charitable and non-profit groups
105,000 volunteer hours by employees in their communities and $6.2 million employee donations to community organizations
10% committed from our operating budget to low-carbon investments
Learn more at suncor.com.