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Oil sands companies demonstrate leadership on climate change

Four of Canada’s largest oil sands producers have come together to demonstrate leadership on climate change. Canadian Natural Ressources Limited, Cenovus Energy Inc., Shell Canada Limited and Suncor Energy Inc., support the Government of Alberta’s climate plan related to the oil and natural gas industry, which includes a carbon pricing regime coupled with an overall emissions limit for the oil sands. These measures provide predictability and certainty and will help ensure that producers can responsibly develop and grow this significant Canadian ressource while also addressing global concerns about climate change.

The companies agree that this is a historic development for Alberta and Canada that will change the conversation about climate change, oil sands and infrastructure. They are proud to have worked with leading environmental organizations to better understand each other’s views and recommend solutions for the oil and natural gas industry that helped inform the policy.

By directing revenue generated from the new carbon pricing regime towards the development of potentially game-changing greenhouse gas (GHG) reduction technologies, this made-in-Alberta plan lays the foundation for the Canadian province to become a global leader in addressing the climate change challenge. It also creates the conditions for Alberta’s oil to become carbon competitive on the global stage and for Canadians to begin receiving full value for their oil exports.

Suncor Energy is Canadia’s leading 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 Petrol-Canada brand. A member of Dow Jones Sustainability indexes, Suncor is working to responsibly develop petroleum resources while also growing a renewable energy portfolio.