Report on Sustainability 2018

Suncor's mission and vision

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.

At Suncor we have a mission that defines our core purpose and helps to direct our actions and activities. We have a vision that describes our view of the future and our place in it. Our values are a set of beliefs that guide our behaviour and help us to deliver our mission and realize our vision.

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.

What makes Suncor different from other energy companies?

Suncor’s long-life, low-decline asset base, strong balance sheet, integrated model and cash flow diversification set us apart from our peers. We strive to be the low-cost and low-carbon competitor in our sector. Capitalizing on key differentiators, including our expertise and focus on sustainable development and technology, has contributed to our industry-leading position and provided the foundation for delivering long-term value for shareholders.

Long-life, low-decline reserve base

We are working to unlock maximum value from our 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.

Sustainable development

We are focused on being a low-cost, low-carbon producer and demonstrating triple bottom line sustainability leadership in:

  • environmental performance
  • social responsibility
  • creating a strong economy

A proven integrated model

From the ground to the gas station, we optimize profits through each link in the value chain. Our highly efficient, integrated model limits Suncor’s exposure to heavy crude differentials, with approximately 80% of bitumen production being upgraded to higher priced light oil or refined products. In addition, our offshore business provides geographic and cash flow diversification. Midstream assets provide operational flexibility through the expansion of pipeline storage capacity and access to markets.

Financial strength

We aim to deliver competitive and sustainable returns to our shareholders by focusing on capital discipline, operational excellence and long-term profitable growth. Our strong balance sheet provides the foundation to increase returns and value to shareholders through consistent dividend growth, with 2017 marking the 15th consecutive year Suncor’s annual dividend has increased, and share repurchases recommencing.

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. Our Report on Sustainability provides several examples of these actions.

On this page
On this page
Recommended readings
Climate change
Stakeholder and Aboriginal relations
Reclamation
Water performance and stewardship