Our objective is to reach net-zero emissions by 2050 and contribute to societal emission reduction goals, including an interim target of 10 megatonnes (Mt) per year by 2030 across our value chain.
The objective applies to scope 1 and 2 emissions, and with our integrated business, we see many opportunities within and outside our value chain to work with customers, suppliers, governments, and other partners to help reduce emissions elsewhere (i.e., scope 3 and other emissions).
Our 10 Mt target is designed to incentivize real emission reductions in the energy system, regardless of where they occur, and to focus on near- and mid-term opportunities with the biggest impact and highest payback.
We have established principles that guide the implementation of the target. The 10 Mt target should:
- encourage new, lower-intensity production as part of our evaluation of new projects.
- drive real emission reductions in the energy system both within and external to Suncor’s operations.
We are focused on base business scope 1 and 2 reductions that encompass fuel switching, energy efficiency and carbon capture use and storage (CCUS) and will focus our energy expansion on low-carbon power, renewable fuels and hydrogen.
We will work with others to reduce value chain emissions, including scope 3, by expanding our energy offerings through low-carbon power, renewable fuels and hydrogen.