Something tells me they probably won't want to do much business with Brad Wall.
Suncor sets new emissions target by 2030 to tackle climate change
Oilsands giant Suncor Energy said it plans to meet a new emissions target by 2030 as part of its broader strategy to tackle climate change.
The Calgary-based producer said it will cut emission intensity — a measurement of emissions per barrel — by 30 per cent in the next 14 years, though it notes “the path to that goal isn’t clearly defined.”
In broad terms, Suncor said it will try to reach the target with a range of measures, such as developing new technologies to extract bitumen and generating electricity with renewables.
The company believes a downturn is the right time to address climate change “because we’re having to redesign a lot of our processes and business anyway” and that it’s important to adjust in anticipation of market demand for lower emissions.
Simon Dyer, of the environmental think-tank Pembina Institute, said Suncor’s target comes as producers face pressure to meet the provincial government’s new cap of 100 megatonnes of greenhouse gas emissions annually.
“There hasn’t been any intensity improvements in the past decade so there is need for leading companies like Suncor to be able to demonstrate significant improvements,” Dyer said.
Suncor has been supportive of Alberta’s climate change plan, which imposes an economy-wide carbon tax. CEO Steve Williams said in a note on the company’s website the plan “allows our industry to grow, but not in an unlimited way,” and will accelerate investments in technology to cut emissions.
Suncor sets new emissions target by 2030 to tackle climate change
Suncor sets new emissions target by 2030 to tackle climate change
Oilsands giant Suncor Energy said it plans to meet a new emissions target by 2030 as part of its broader strategy to tackle climate change.
The Calgary-based producer said it will cut emission intensity — a measurement of emissions per barrel — by 30 per cent in the next 14 years, though it notes “the path to that goal isn’t clearly defined.”
In broad terms, Suncor said it will try to reach the target with a range of measures, such as developing new technologies to extract bitumen and generating electricity with renewables.
The company believes a downturn is the right time to address climate change “because we’re having to redesign a lot of our processes and business anyway” and that it’s important to adjust in anticipation of market demand for lower emissions.
Simon Dyer, of the environmental think-tank Pembina Institute, said Suncor’s target comes as producers face pressure to meet the provincial government’s new cap of 100 megatonnes of greenhouse gas emissions annually.
“There hasn’t been any intensity improvements in the past decade so there is need for leading companies like Suncor to be able to demonstrate significant improvements,” Dyer said.
Suncor has been supportive of Alberta’s climate change plan, which imposes an economy-wide carbon tax. CEO Steve Williams said in a note on the company’s website the plan “allows our industry to grow, but not in an unlimited way,” and will accelerate investments in technology to cut emissions.
Suncor sets new emissions target by 2030 to tackle climate change
