Climate change is a complex challenge that requires all of us to transform our relationship with energy. With the complexity and risks associated with climate change, there is also great opportunity for companies willing to take a lead. With oil and gas remaining a significant part of the global energy mix, Suncor and our industry can play an important role in contributing and leading efforts to decarbonize the energy system.

As an energy company with a strategy that keeps us resilient for the long term, we are charting a path to a net-zero world by reducing emissions in our base business and working with our customers, governments and partners to realize our shared climate objectives.

Our climate objectives

Our objective is to reach net-zero GHG emissions by 2050 (scope 1 and 2) and contribute to societal emission reduction goals. We’ve set an interim objective of 10 megatonnes (Mt) of annual emission reductions across our value chain by 2030. To get there we’re:

• reducing greenhouse gas (GHG) emissions through base business improvements through our investments in fuel switching, energy efficiency and carbon capture and storage,
• leveraging expertise, complementing our integrated business and connecting to the energy consumer with low-carbon power and fuels,
• and working with others to reduce emissions.

Reducing emissions in our base business

For more than 50 years, the oil sands have been at the core of our business. Over the past decade, we’ve invested significantly in projects and technologies to lower our base business GHG emissions.

About half of oil sands emissions come from just 16 sources, providing significant advantages in the efficiency of reducing emissions with carbon capture and storage, fuel switching and energy efficiency measures.

Our low emissions businesses

We’re well-positioned for energy system expansion with decades of experience growing and operating complementary businesses like low-carbon power and ethanol. This is a natural evolution of our company as we build on our current areas of expertise that also leverage our integrated business.

Working with others

The low-carbon energy expansion requires technological advancement and significant collaboration. We are founding and/or long-standing partners in several organizations, working collectively to advance knowledge-sharing and innovation in our industry and across society.