“We need to understand how we can continue to deliver value in a carbon-constrained world.”
A conversation with Fiona Jones, general manager, sustainability
Prior to Suncor’s 2016 Annual General Meeting, NEI Investments filed a shareholder proposal calling on Suncor to provide ongoing reporting on how it is assessing and ensuring long-term corporate resilience in a future low carbon economy. Suncor’s Board of Directors decided to support the resolution, which was subsequently passed by more than 98% of Suncor shares represented at the AGM.
Over the next several months, Suncor drafted a stand-alone report on carbon risk called Suncor’s Climate Report – Resilience Through Strategy (PDF, 18 pp., 1 MB), the first of its kind in the Canadian oil and gas industry. The report, released in April 2017, discloses our best assessment of the business risk associated with climate change and the transition to a lower carbon economy – as well as the strategies we are taking to mitigate that risk. We intend to update our assessment on an annual basis as part of our Report on Sustainability.
Suncor’s Fiona Jones, general manager, sustainability, describes the thinking behind the report, including how the company sees the energy transition unfolding, our strategy through that transition and the options we are building for the future.