Suncor Energy ranked top Canadian firm for climate change disclosure
In addition to transparent reporting, Suncor focused on emissions management
CALGARY, ALBERTA--(Marketwire - Oct. 13, 2011) - Suncor Energy has been commended by the Carbon Disclosure Project (CDP). The CDP, which represents 551 institutional investors with US $71 trillion in assets under management, has recognized Suncor's approach to the disclosure of climate change information.
Suncor is listed on the CDP's "Carbon Disclosure Leadership Index", which recognizes companies displaying the most professional approach to corporate governance regarding climate change information disclosure practices. Companies are scored on their climate change disclosure, and high scores indicate good internal data management and understanding of climate change related issues affecting the company. Suncor topped the Canada 200 Index and was one of the top three energy companies within the FTSE Global Equity Index Series (Global 500).
"We're pleased to be recognized for Suncor's track record of transparent disclosure around our greenhouse gas emissions (GHGs) and our continued focus on managing GHGs through energy efficiency, renewable energy and technology development," said Gordon Lambert, Suncor's vice president, Sustainability. "We are going to continue to drive improvements and solutions, both internally and in collaboration with other companies and institutions."
Suncor has invested in technology, improved energy efficiency and reduced GHG emissions intensity at its oil sands operations by 50 per cent compared to 1990 levels — during a period when average daily production levels tripled.
"Companies that make the Carbon Disclosure Leadership Index have demonstrated good internal data management practices for understanding greenhouse gas emissions," said Paul Simpson, chief executive officer of the Carbon Disclosure Project. "They have shown a strong awareness of the business issues related to climate change including climate related risks and opportunities. Those organizations that give clear consideration to measuring and reporting on climate change issues will be best placed to capitalize on the opportunities from managing them."
The Carbon Disclosure Project (CDP) is an independent not-for-profit organization holding the largest database of primary corporate climate change and water information in the world. Some 3,000 organizations across the world's largest economies now measure and disclose their greenhouse gas emissions and assessment of climate change risk and opportunity through CDP, in order that they can set reduction targets and make performance improvements. For more information visit www.cdproject.net.
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 sustainability at Suncor please visit our web site at www.suncor.com/sustainability.
For more information please contact: