The Suncor Energy Centre picture in downtown Calgary, Alta., Friday, Sept. 16, 2022.THE CANADIAN PRESS/Jeff McIntosh
CALGARY – An environmental group has lodged a formal complaint with the Alberta Securities Commission over Suncor Energy Inc.’s climate risk disclosures.
Greenpeace Canada says Suncor may have failed to provide full, true and plain disclosure of all material facts in its forward-looking financial statements.
Greenpeace senior energy strategist Keith Stewart says the Calgary-based oil giant used to prepare an annual report on climate-related risks, which included the disclosure of business strategy risk and the potential for stranded assets in a low-carbon future.
Stewart says Suncor stopped disclosing the expected impacts on the company’s business strategy and profitability in various climate scenarios this year.
He says this change in disclosure comes as the company appears to be doubling down on fossil fuels by selling off its renewables assets and purchasing a larger stake in the Fort Hills oilsands mine.
Suncor put out a 52-page climate report earlier this year in which it detailed its objective to reach net-zero greenhouse gas emissions from production by 2050, with an interim objective of 10 million tonnes of annual emission reductions across its value chain by 2030.
This report by The Canadian Press was first published Oct. 12, 2023.
Companies in this story: (TSX:SU)
The Canadian Press
- 0060 Arizona Lithium Lease building0060 Arizona Lithium Lease building
- 0059 Southeast College Heavy Equipment Operator0059 Southeast College Heavy Equipment Operator
- 0058 Royal Helium Steveville opens anonymous rocket0058 Royal Helium Steveville opens anonymous rocket
- 9002 Pipeline Online 30 sec EBEX9002 Pipeline Online 30 sec EBEX
- 0055 Smart Power Be Smart with your Power office0055 Smart Power Be Smart with your Power office
- 0015 Latus Viro0015 Latus Viro
- 0052 Predator Inspections0052 Predator Inspections
- 0051 JML Hiring Pumpjack assembly0051 JML Hiring Pumpjack assembly
- 0049 Scotsburn Dental soft guitar0049 Scotsburn Dental soft guitar
- 0046 City of Estevan This is Estevan0046 City of Estevan This is Estevan
- 0043 ALX ten sizes0043 ALX ten sizes
- 0039 Summit ESP Saskatchewan lower third0039 Summit ESP Saskatchewan lower third
- 0041 DEEP Since 2018 now we are going to build0041 DEEP Since 2018 now we are going to build
- 0032 IWS Summer hiring rock trailer music
- 0022 Grimes winter hiring
- 0021 OSY Rentals S8 Promo
- 0018 IWS Hiring Royal Summer
- 0013 Panther Drilling PO ad 03 top drive rigs
- 0011
- 0006 JK Junior
- 9001
- 0002