Today, citizens are asking the oil sands industry to do more — take decisive action on global and regional environmental issues. Suncor plans to be around for a long time and we know success over the long term depends on addressing a wide range of stakeholder concerns.
Environmental stewardship and responding to the needs of our communities is just as important to the economic well-being of our society as upgraders, pipelines or refineries. We are working hard to reduce the amount of water and natural gas we use, limit the level of greenhouse gas emissions and air contaminants, and reduce the length of time it takes to reclaim disturbed lands.
Responsible development makes good business sense. By investing a significant portion of today's production revenues into tomorrow's technologies, we expect to deliver a big environmental payoff. Technology will help us find ways to develop existing and new energy resources more efficiently and with far less impact on the environment. Our focus areas are:
Life Cycle Value Assessment
Suncor uses life cycle thinking, including a formal Life Cycle Value Assessment (LCVA) tool, to help evaluate the impact of a project's design, construction and operation. LCVA covers everything from the manufacture of materials by third-party vendors to waste disposal and reclamation.
The analysis and information Suncor gathers with this tool helps us make smart, responsible business decisions. This results in more sustainable project designs and operations that take into account long-term triple bottom line benefits and impacts, not just short-term paybacks.
The Pembina Institute for Appropriate Development has helped integrate the use of LCVA into our operations.