We support the Paris Agreement to limit global temperature rise to below 2°C. This requires an urgent and collaborative effort from all governments, businesses and individuals to reduce GHG emissions while meeting the world’s energy needs. Solutions across all parts of the economy must be pursued, addressing improvements to existing energy systems and implementing new energy sources to advance the energy transformation the world needs.
Suncor is well-positioned for this transformation and together with the Suncor Energy Foundation, we support organizations who engage Canadians in meaningful discussions on the energy system and the connections between the environment and the economy. We are working with our foundation partners to promote an understanding of the changing energy realities of the 21st century and raise awareness among Canadians of the role their choices and lifestyles play in reducing emissions.
Energy Futures Lab
Over the past year, we continued partnering with the Energy Futures Lab, a multi-sector collaboration designed to convene a diverse range of stakeholders in helping shape the energy future and strengthen Alberta and Canada’s position as a global energy.
Collective dialogue and collaboration are important elements of how we develop relationships to understand diverse perspectives, experiences and viewpoints about the role we all play in creating our energy future. While our views on the pathways to achieving this future may not always align, we can all agree on the need to sustainably produce energy that enhances peoples’ lives while caring for each other and the earth.
Innovation is best served by inviting the brightest minds and diverse perspectives to collaborate both within and outside our industry.
We also support several climate initiatives and participate in critical global energy discussions, including:
- The Canadian Institute for Climate Choices, which assists government decision-making through rigorous research and analysis, broad engagement with experts, industry, and other key stakeholders.
- The World Bank Carbon Pricing Leadership Coalition, a voluntary initiative that aspires to catalyze action toward the successful implementation of global carbon pricing.
- The World Economic Forum and the United Nations Climate Change Conference of Parties (COP).
Task Force on Climate Related Financial Disclosures (TCFD)
We have supported the desire for consistency and transparency embodied in the Task Force on Climate-related Financial Disclosures (TCFD) recommendations since 2018, and view information disclosed in alignment with those recommendations as foundational for stakeholder engagement.
Within our full 2020 Climate Risk Report, we provide information aligned, fully or in part, to TCFD within our on greenhouse gas (GHG) emissions trends, our strategy and progress toward our GHG goal, updated information on our input into climate policy development, and our engagement activities including embedding sustainability considerations within our supply chain.
Leadership in climate policy
We operate in multiple jurisdictions across Canada and internationally, requiring thoughtful constructive engagement with governments and political parties, Indigenous Peoples, think tanks, universities, and environmental advocacy groups. These efforts help to advance the transition towards a low-carbon economy through the development of smart policies that promote cost and carbon competitiveness.
We demonstrate our commitment to support fair, effective, practical and cost-efficient policy design by contributing to the development of national and provincial low-carbon policies. We also support several climate initiatives and participate in critical global energy discussions.