This 2010 Report on Sustainability outlines Suncor's performance in 2009 and provides a five-year performance trend where possible. Due to significantly different organization structures of the legacy Suncor and Petro-Canada companies, historic data is only included where available, making year-over-year comparisons difficult. The 2010 report includes consolidated social and environmental data from both companies. Our previous Report on Sustainability was published in June 2009 and outlined performance in 2007 and 2008.
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The Report on Sustainability was created using the Global Reporting Initiative (GRI) G3 Guidelines. An independent third party, Deloitte & Touche LLP, reviewed selected performance indicators for the year 2009 using the GRI G3 guidelines. Results of their review are available in the Third Party Assurance Report.
Stakeholder feedback is also an integral part of developing this report. As in previous years, Suncor enlisted the guidance of Ceres, a network of investors, labour, environmentalists and other public interest groups to help ensure our report is relevant and meaningful. We thank Ceres and the participating stakeholders for their assistance in creating the 2010 Report on Sustainability.
In 2009, we had a resolution lodged by a shareholder requesting that we disclose how the company has incorporated the potential costs of carbon into long-term business planning, including details on the range of carbon costs used in scenario planning and the potential impacts of these costs. Further dialogue with the shareholder resulted in our commitment to continue to improve our carbon risk disclosure. In our discussion of 2009 GHG performance we provide a five-year emission forecast for each of our major facilities. Our Climate Change Action Plan describes how we model carbon economics on the base business and growth projects. We have further undertaken to include in our broader disclosure of growth project approvals the carbon prices, calibrated to the best available information at the time, and an assumption of the applicable regulatory framework, similarly calibrated to current expectations of evolving public policy, that were used in the project economic analysis.
The financial highlights include the results of post-merger Suncor from August 1, 2009. As such, the amounts reflect results of the post-merger Suncor from August 1, 2009 together with results of legacy Suncor only from January 1, 2009 through July 31, 2009. The comparative figures reflect solely the results of the legacy Suncor. All financial information is reported in Canadian dollars unless otherwise noted. References to “Suncor” or “the company” means Suncor Energy Inc., its subsidiaries, partnerships and joint venture investments, unless the context indicates otherwise. This document contains forward-looking statements based on current expectations that involve risks and uncertainties. Actual results may differ materially.
Conversely, non-financial data gathered for GRI indicators is not comparable to financial data. This data is reporting for full 12 months of 2009 for all assets, both legacy Suncor and legacy PC. This method in reporting had two main benefits:
- simpler and easier for Suncor employees to comply and
- full transparency of the GRI indicators for all assets for the given year.
Moving forward, Suncor will release a Sustainability Report on a bi-annual reporting cycle.