Suncor Energy is going to provide greater disclosure on the risk it faces from carbon pricing, the company announced this week. It will also offer increased accountability on its lobbying activities, which will be included in its 2016 Report on Sustainability to be issued in July.
As part of this enhanced disclosure, Suncor will provide further information about how the company is expected to succeed in a low carbon future.
"Suncor has a demonstrated track record of transparent reporting as evidenced by the disclosure we provide in our Report on Sustainability, and our recognition by the Carbon Disclosure Project and the Dow Jones Sustainability Index," said Steve Williams, president and CEO at Suncor. "We believe additional disclosure about the resilience of our business strategy in a transition to a low carbon future benefits shareholders and stakeholders."
Regarding its lobbying practices, Suncor will expand its disclosure by publishing its policy on lobbying and political donations, and list trade associations that lobby government to which Suncor pays membership dues of greater than $50,000 and $100,000 per year. Suncor will continue to disclose its political donations as has been done in the past.
Suncor's enhanced disclosure is consistent with its strong focus on sustainability, reflects its openness to engage with shareholders and stakeholders and reflects best practice within the energy industry in Canada.
A presentation summarizing Suncor's perspective and Management's recommendation on the two proposed shareholder resolutions described in Suncor's Management Proxy Circular 2016 dated February 25 is available on its website.