Suncor's vision is to be a sustainable energy company. That means operating our business in a way that enhances social and economic benefits to society while minimizing the environmental impacts of resource development. This corporate vision, combined with our pioneering spirit of innovation and hard work continues to be the hallmark of our success.
Seeing the possibilities
Suncor's first formal steps in sustainability came in 1992, when our Board of Directors adopted a vision statement that stated “Suncor's vision is to be a unique and sustainable energy company, dedicated to vigorous growth by meeting the changing needs of our current and future stakeholders."
The statement went on to say that “being a sustainable energy company means managing our business in a way that enhances social and economic impacts to society, while striving to minimize the environmental impacts associated with resource development.”
That commitment remains today, with the company being the largest single investor in Canada's thriving oil sands industry. We currently produce the equivalent of about 9 percent of Canada's crude oil supply.
As always, our actions speak louder than words. That's why we followed our original vision statement with a series of concrete initiatives to put the principles of sustainable development into practice, including:
- Adopting a seven-point action plan aimed at increasing energy efficiency and reducing corporate-wide greenhouse gas emissions. By harnessing new technologies such as cogeneration and waste heat capture, we cut per-barrel greenhouse gas emissions at our oil sands plant by nearly half compared to 1990 levels. With the new environmental goals identified in this report, we've affirmed our commitment to improving our performance.
- Making industry-leading investments in renewable energy. To date, we have spent more than $250 million in this area with plans to spend $500 million more over the next five years. Suncor is a partner in four wind power farms and we operate one of Canada's largest ethanol production facilites. Taken together, these projects are expected to have the net effect of reducing Canada's carbon dioxide emissions by nearly 600,000 tonnes per year.
- Implementing tools to help measure our progress. Starting in 2000, Suncor has used the Life Cycle Value Assessment (LCVA) tool on a corporate-wide basis to better evaluate the environmental, social and economic impacts of all new projects from conception to reclamation. The Pembina Institute for Appropriate Development helped integrate LCVA into our operations.
Achieving our purpose, vision, values and beliefs requires the commitment and active engagement of our employees, management and our Board of Directors. To achieve our vision, we continue to emphasize the following key areas:
Safety Leadership. Nothing is more important than protecting ourselves and one another from harm. That means safety is never compromised—for any reason. If we can't do it safely, we don't do it. Although safety is everyone's responsibility, it begins with personal accountability and a “prevention mindset.”
People and Relationships. All Suncor employees play a part in creating a positive workplace environment that helps us be our best. Because each of us directly influences the quality and effectiveness of working relationships one interaction at a time, we work with one another in a way that builds mutual trust and respect. Open communication, respect and integrity are the foundation of how we interact with one another.
High Performance. Never satisfied with the status quo, we are driven to set a new standard and exceed our own past performance.
Sustainability. In conducting our business we balance the long-term economic and social benefits to our stakeholders, while striving to minimize the impacts to our environment.
Accountability. We understand that we are part of a whole—and our work impacts fellow employees, other parts of the business and our stakeholders. Others are counting on us. Making a difference and adding value comes from our decisions, our actions, and our willingness to take responsibility for the results achieved.