Report on Sustainability 2019

About Suncor

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 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.

What makes Suncor different from other energy companies?

Suncor’s long-life, low-decline asset base, strong balance sheet and integrated model create an advantage. What sets us apart from our peers is our approach to sustainability, technology and innovation, which will help us achieve our social goal, further reduce our carbon emissions intensity by 30% by 2030 through a GHG goal, and grow the cash flow from our business. Making the most of these differentiators has contributed to our industry-leading position and provides the foundation for increasing long-term returns to shareholders.

Long-life, low-decline reserve base

We are working to unlock value from Alberta's extensive resources through a continued focus on responsible development and cost discipline. Our focus on operational excellence helps to unlock the full value of these resources for all of Canada.

Sustainable development

We continue to be focused on being a trusted producer of energy while demonstrating sustainability leadership in:

  • environmental performance
  • social responsibility
  • economic prosperity

A proven integrated model

From the ground to the gas station, we optimize value through each link in the value chain. Our flexible model allows us to capture the shift in value between operating segments during periods of market volatility and limits Suncor’s exposure to crude differentials, with a significant portion of bitumen production being upgraded to higher-priced light oil and refined products.

The company’s midstream assets and pipeline commitments, strategically acquired with the future in mind, provide operational flexibility through secured market access, including to the U.S. Gulf Coast and other international markets.

Financial strength

We aim to deliver competitive, sustainable and increasing returns and benefits to our stakeholders, by focusing on capital discipline, operational excellence, and long-term profitable growth. We have returned value to shareholders through consistent dividend growth, with 2018 marking the 16th consecutive year we increased our cumulative annual dividend, while also significantly increasing our share repurchase program.

Suncor’s commitment to sustainable development

Continuous sustainability improvement is critical to our business strategy, and it’s woven into the very fabric of the organization. Suncor’s chief sustainability officer reports directly to our chief executive officer.

As always, actions speak louder than words. This Report on Sustainability documents several examples.

On this page
On this page
Recommended readings
Climate change
Stakeholder and Indigenous relations
Land and reclamation
Water performance and stewardship