Suncor Energy releases 2010 Report on Sustainability
CALGARY, ALBERTA--(Marketwire - Aug. 17, 2010) - Suncor Energy Inc. announced today the release of its 2010 Report on Sustainability – a comprehensive review of the company's environmental, social and economic performance for the year. The report, themed "Energy. Innovation. Commitment," outlines Suncor's performance in 2009 and provides key five-year performance trends.
As a result of the 2009 merger with Petro-Canada, this year's report includes consolidated social and environmental data from both companies, including historic data where available.
"This report highlights not only our continued investment in innovation and growth as we responsibly develop Canada's oil sands, but also addresses some of the challenges we face," said Rick George, President and CEO, Suncor Energy. "As a company, we will continue to lead by example, be candid about our sustainability challenges and be forthright about potential solutions."
The report outlines Suncor's four environmental performance goals and what will be required to accomplish them. All of the proposed reductions are absolute, except for energy efficiency which is intensity-based:
- 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.
Performance highlights from the report include:
- Significant strides in water management. In 2009 alone, Suncor's mining operations achieved an 11 per cent reduction in fresh water withdrawal compared to 2008, bringing the reduction to 27.5 per cent since 2004.
- Improvements in how we manage tailings at our oil sands mining operations. Our new TROTM process helps transform fluid tailings ponds into solid landscapes suitable for reclamation.
- Progress on climate change. Our climate change action plan has contributed to a 53 per cent decrease in mineable oil sands greenhouse gas emission intensity from 1990 levels.
Suncor compiled the 2010 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 incorporates text articles, photos, data tables, charts, graphs, and videos featuring Suncor employees and stakeholders, as well as a summary PDF document, is now available at www.suncor.com/sustainability or by calling 1-800-558-9071. Readers are encouraged to submit feedback on the report by visiting the website or emailing email@example.com. A printed magazine-style summary of the Report on Sustainability was mailed to stakeholders in late July.
To see Suncor's Social media release, please visit http://www.marketwire.com/press-release/Suncor-Energy-Releases-2010-Report-on-Sustainability-TSX-SU-1305933.htm.
Certain statements in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking statements"). All forward-looking statements are based on Suncor's current expectations, estimates, projections, beliefs and assumptions based on information available at the time the statement was made and in light of Suncor's experience and its perception of historical trends.
Some of the forward-looking statements may be identified by words like "expected," "anticipates," "approximately," "estimates," "plans," "scheduled," "intends," "may," "believes," "projects," "indicates," "could," "focus," "vision," "goal," "proposed," "target," "objective," "continue" and similar expressions. In addition, all other statements that address expectations or projections about the future, including statements about our strategy for growth, costs, schedules, production volumes, operating and financial results and expected impact of future commitments, are forward-looking statements. Forward-looking statements in this news release include references to environmental performance goals, including reducing fresh water consumption by 12 per cent by 2015, increasing reclamation of disturbed land area by 100 per cent by 2015, improving energy efficiency by 10 per cent by 2015 and reducing air emissions by 10 per cent by 2015. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to our company. Suncor's actual results may differ materially from those expressed or implied by our forward-looking statements and you are cautioned not to place undue reliance on them.
Suncor's Earnings Release, Quarterly Report and Management's Discussion & Analysis for the second quarter of 2010 and its most recently filed Annual Information Form/Form 40-F, Annual Report to Shareholders and other documents it files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could influence actual results and such factors are incorporated herein by reference. Copies of these documents are available without charge from Suncor at 150 6th Avenue S.W., Calgary, Alberta T2P 3Y7, by calling 1-800-558-9071, or by email request to firstname.lastname@example.org or by referring to the company's profile on SEDAR at www.sedar.com or EDGAR at www.sec.gov. Except as required by applicable securities laws, Suncor disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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.
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