Find out more about the vision and strategy that guide the way Suncor is working towards a more sustainable energy future

Find out more about the vision and strategy that guide the way Suncor is working towards a more sustainable energy future

Find out more about the vision and strategy that guide the way Suncor is working towards a more sustainable energy future

Find out more about the vision and strategy that guide the way Suncor is working towards a more sustainable energy future

A Suncor employee watches the sun set in Norway

Vision and strategy

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Energy is delivered to and used by people in every country across the globe. It is vital to the world we live in and the quality of life we enjoy.

As Canada’s leading integrated energy company, we know that, together with our stakeholders, we need to look beyond the energy needs of today and understand what is required for the future. Sustainability is about seeing the big picture and working together towards better, more sustainable solutions.

Our mission

We create energy for a better world.
This is our core purpose, and what we aspire to every day.

Our vision

Suncor's vision is to be trusted stewards of valuable natural resources. Guided by our values, we will lead the way to deliver economic prosperity, improved social well-being and a healthy environment for today and tomorrow.
This is where we see ourselves and our company in the future. In other words, it's our view of Suncor’s place in the world.

Our values

Our values are our guiding principles — our constant set of beliefs. They define the way we do business each and every day.

Safety above all else
Do it safely or don't do it.

Respect
Being our best. Giving our best. Showing we care.

Do the right thing
The right way, with integrity.

Raise the bar
Pursue with passion. Always add value.

Commitments matter
We are all connected and part of something bigger.

Strategy and competitive differentiators

Our significant asset base, strong balance sheet and integrated model set us apart from our peers. We strive to be the low-cost competitor in our sector, without compromising environmental performance. Capitalizing and executing on these differentiators has contributed to our industry-leading position and provide the foundation for delivering long-term value for shareholders.

Reserves and resources base

We are committed to getting the most value from our resources, which include a significant position in the oil sands. Our operational excellence focus is to unlock the full value of these resources.

Industry expertise

We pioneered commercial oil sands development and continue to advance by developing and collaborating on innovative technologies that improve efficiency, lower costs and enhance environmental performance.

Our people are among the most experienced and knowledgeable in the industry. They bring their passion and expertise to work every day.

Sustainable development

We are focused on delivering triple-bottom-line sustainability. That means leadership in:

  • environmental performance
  • social responsibility
  • creating a strong economy

A proven integrated model

From the ground to the gas station and offshore platform to wind turbine, we’re focused on creating value for our shareholders. The integration of our business, both financially and physically, creates the conditions for our success.

Financial strength

We aim to achieve the highest returns possible from our operations. Our focus is on keeping costs down and increasing reliability. Our strong balance sheet and ongoing focus on capital discipline continue to highlight our commitment to delivering value for shareholders.

Commitment to sustainable development

A commitment to continuously improve performance is what makes us unique. Not only is continuous sustainability improvement a pillar of our business strategy, it is also a company value driver, effectively weaving a sustainability focus into the very fabric of the organization.

Actions speak louder than words. Here are a few concrete initiatives where we have put the principles of sustainable development into practice:

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Climate change

  • We adopted a seven-point climate change action plan aimed at increasing energy efficiency and reducing corporate-wide greenhouse gas emissions (GHG).
  • This has contributed to a 45% reduction in carbon dioxide (CO2) intensity per barrel at our oil sands operations since 1990.

Renewable energy

  • We make industry-leading investments in renewable energy.
  • Our interests include six operating wind power projects.
  • We also operate Canada’s largest ethanol plant with a capacity of 400 million litres per year.
  • Our combined renewable energy portfolio displaces about about 1 million tonnes of carbon dioxide (CO2) per year – the equivalent of the annual tailpipe emissions of about 255,000 typical cars.

Partnering with Aboriginal businesses

Through our Petro-Canada brand, we’ve partnered with various First Nations, including the Peter Ballantyne Cree Nation (PBCN) in northern Saskatchewan and most recently the Long Plain First Nation and Fort McMurray First Nation 468 to manage Petro-Canada retail stations.

These stations employ many First Nation members and bring tremendous value to the Petro-Canada retail model.

The PBCN partnership is just one example of the success of this model. In addition to generating positive economic returns for the First Nation, this partnership has created jobs and developed business capability in the community.

Learn more about our partnerships with Aboriginal businesses

Innovation in bitumen recovery

In collaboration with industry partners, we’re developing an in situ extraction method called enhanced solvent extraction incorporating electromagnetic heating (ESEIEH — pronounced ‘easy’). The ESEIEH process uses radio waves and solvents to heat, extract and transport bitumen for further processing. By reducing the energy required and eliminating the need for water or steam, the ESEIEH process has the potential to:

  • improve energy efficiency
  • reduce GHG
  • reduce extraction costs

Preliminary ESEIEH results have been encouraging. Additional work is underway to determine the commercial viability of the process.

Learn more about ESEIEH

Social prosperity

We invest in change and social progress in the communities where we operate to ensure sustainable and resilient communities. Social Prosperity Wood Buffalo, a five-year partnership between stakeholders in the Wood Buffalo region of northeastern Alberta, the Suncor Energy Foundation, Ontario's Waterloo region and the University of Waterloo, aims to improve the quality of life in rapidly growing Wood Buffalo by strengthening its non-profit sector.

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Reclamation

  • We’re improving how quickly and how well we reclaim disturbed lands. In September 2010, we became the first oil sands company to complete surface reclamation* of a tailings pond. Through adoption of environmental goals in 2009, we’ve met and exceeded our target for an increase in reclamation of disturbed land area by 100% by 2015.**

Water use

  • We work to continuously reduce our use of fresh water.
  • At Oil Sands, our gross freshwater withdrawal from the Athabasca River has declined by 58% since 2007.
  • Approximately 96% of the water used at our Firebag in situ site is recycled.

Operational excellence

Operational excellence, operating in a way that is safe, reliable, cost-efficient and environmentally responsible, helps us mitigate business risks and focus on achieving industry-leading performance.

Suncor's strategic framework infographic

* Reclaimed lands have not been certified by government regulators. For further details, see Advisories — Forward-Looking Statements.
** The base year for the planned improvements is 2007. The goals were established in 2009.