CALGARY, ALBERTA--(Marketwire - July 22, 2011) -
Editor's Note: There is a video and 2 photos associated with this release.
Suncor Energy Inc. reported today the release of its 2011 Report on Sustainability a comprehensive review of the company's environmental, social and economic performance for the year. The report, themed "Performance. Partnerships. Possibilities," outlines Suncor's performance in 2011 and provides key five-year performance trends.
The report outlines Suncor's four environmental performance goals and updates the company's progress on achieving them. All of the proposed reductions are absolute, except for energy efficiency which is intensity-based. The base year for the planned improvements is 2007.
Environmental performance goals
- Reduce fresh water consumption by 12 per cent by 2015;
- Increase reclamation of disturbed land area by 100 per cent by 2015;
- Improve energy efficiency by 10 per cent by 2015;
- Reduce air emissions by 10 per cent by 2015.
Environment, social and economic performance highlights
- Progress in reducing fresh water demand at our oil sands mining operations.
- Suncor's gross fresh water withdrawal from the Athabasca River has declined by 36 per cent since 2004.*Water withdrawal is below 1998 levels, even though bitumen production has nearly tripled.
- Improvements in how we manage tailings.
- We began commercial implementation of our new TRO(TM) process, which we expect will allow us to reduce existing tailings as well as the need for future ponds.
- By the end of 2011, Suncor expects to have spent $1.2 billion to implement the new technology. We also became the first oil sands company to achieve surface reclamation of a decommissioned tailings pond.
- Momentum on reducing greenhouse gas (GHG) emissions.
- Our climate change action plan has contributed to a 50 per cent decrease in GHG emission intensity at our oil sands operation from 1990 levels.*
- Steady investment in communities in which we operate.
- Total value of all contributions made to charitable, non-charitable and community groups in 2010 was $15.57 million.
- Significant contribution to the economy.
- Suncor spent $9.4 billion** on goods and services in 2010, including $277 million on goods and services from Aboriginal businesses serving the Wood Buffalo region, home to our oil sands business.
QUOTES
"We've always seen this report as more than just a corporate document; our hope is that it can also stimulate constructive discussion on the challenges and choices associated with energy development."
- Steve Williams, chief operating officer
"Growth brings opportunity, but also a set of new challenges. The biggest one of all: balancing increased development with the need to live up to our social and environmental responsibilities, both as individual companies and collectively as an industry. I believe the key to meeting this challenge lies in substantially increased and improved collaboration. As an industry, we need to work together, and with our respective stakeholders, to ensure we develop energy in ways that enhance social and economic benefits for society, while minimizing cumulative environmental impacts."
- Rick George, president and chief executive officer
"So far we've learned that it definitely is possible to treat tailings water and we can treat it for using as oil feed water, utility water, fire water, and other purposes that haven't been used before."
- Prit Kotecha, manager, water strategy and solutions
"Oil sands projects are tremendously capital-intensive and it takes world-class expertise to pull them off. By working together, you pool your talent and help reduce some of the economic risk. But there are social and environmental benefits as well. You have the opportunity to reduce your net environmental footprint and better manage and stage projects to minimize the negative impact on the communities closest to your operations.
- Gordon Lambert, vice president, sustainability
Table of Contents:
- About Suncor:
- Environment:
- Social
- Economic
- 2011 Report on Sustainability video
- Performance Measures
Suncor compiled the 2011 Report on Sustainability in accordance with the Global Reporting Initiative G3 Guidelines – an internationally recognized standard in sustainability reporting. As in previous years, an independent third party verified a number of performance indicators. Suncor also enlisted the guidance of Ceres, a network of investors, environmental groups and other public interest groups in developing the report.
The web-based report, which includes articles, photos, data tables, charts and graphs and a video featuring Suncor employees, partners and stakeholders, as well as a summary PDF document, is now available at www.suncor.com/sustainability. Readers are encouraged to submit feedback on the report by visiting the website or emailing info@suncor.com. A printed magazine-style 2011 Summary Report on Sustainability will be mailed to stakeholders in late July.
Suncor also writes a blog and email newsletter about the development of the oil sands, including its environmental impacts and/or economic and social implications. More information about the Oil Sands Question and Response (OSQAR) blog as well as an opportunity to participate in the dialogue can be found at http://osqar.suncor.com
Suncor Energy Inc. is Canada's premier integrated energy company. Suncor's operations include oil sands development and upgrading, conventional and offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand. While working to responsibly develop petroleum resources, Suncor is also developing a growing renewable energy portfolio. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.
For more information about Suncor Energy Inc. please visit our web site at www.suncor.com.
* As at December 31, 2010.
** Excludes spend on goods and services in Libya and Syria.
™ Trademark of Suncor Energy Inc.
To view the video associated with this release, please visit the following link:
http://www.youtube.com/watch?v=egNQqV8VpTA
To view the photos associated with this release, please visit the following links:
Contact Information:
http://www.suncor.com/en/independent/320.aspx
