Page 27 - Suncor Report on Sustainability 2014 - English

Suncor: report on sustainability 2014
25

1.3 billion
45%

people who still lack growth in global energy
access to electricity
demand since 1990

The next energy conversation
Environmental challenges
These kinds of investments have already
On the speciic challenge of climate change, The IEA has developed a number of scenarios. allowed our industry to reduce per-barrel

our starting point is that we must do all we
According to one of those scenarios, energy- greenhouse gas (GHG) emissions intensity
can to improve our own operational and energy related COemissions are projected to rise
(i.e., the amount of emissions per barrel
2
eficiency and reduce our carbon footprint.
by 20 per cent by 2035, putting the world
of production). Ongoing research and
on track for a long-term average temperature development initiatives hold the potential

However, when it comes to making a signiicant increase of 3.6° C – far above the widely to ultimately ‘bend the curve’ on absolute
impact on reducing global GHG emissions, we cited target of limiting global warming to
emissions growth. Our goal is for emissions

know we’ll need to be part of a much larger no more than 2° C.
from oil sands production to be on par with,
conversation. And given that up to 80 per cent or lower than, other common sources of oil.

of the GHG emissions from a barrel of oil are Moreover, the IEA has calculated that no more
generated at the point of consumption, that than one-third of proven reserves of fossil fuels Moreover, oil sands development is driving

discussion will have to be as much about the can be consumed prior to 2050 if the world is economic growth, which, in turn, makes it
choices we all make when we use energy as
to achieve the 2° C goal (unless carbon capture possible for governments and industry to invest

it is about primary production.
and storage technology is widely implemented).
in new environmental technologies that could
help make all forms of energy development

That is why we have reached out to a number Signiicantly, however, the IEA does not more productive and sustainable.
of large automobile manufacturers to learn advocate abandoning any existing energy

about their technology development processes. source. Instead, it argues for a suite of solutions, We believe it’s necessary to balance our
We see the potential to reduce transportation- including the accelerated development of industry’s emissions footprint (currently less than

related GHG emissions through the products renewables; limiting (but not eliminating) 0.15 per cent of global CO2 emissions) against
we sell.
coal-ired electricity generation; improving our potential to drive technology, innovation

energy eficiency standards; encouraging and capital investment in ways that can facilitate
Dialogues such as these allow us to start having energy conservation; and investing in the transition to a cleaner energy future.

a serious discussion about the mix of primary environmental technologies.
energy sources that can best bridge us to
That is the lens through which we view

a more sustainable future – and the policy We also support an all-of-the-above approach. the industry.
options and investments that will help get
We believe energy, in all its forms, needs to

us there.
be responsibly developed. We believe energy Others view the industry through a very
eficiency and conservation must be a top different lens. They maintain oil sands

We continue to believe our core oil sands priority for producers and consumers alike. development is an inherently ‘dirty’ form

resource – along with our other conventional And – to no one’s surprise, we are sure –
of energy production that results in a
and renewable energy assets – can play a we believe the oil sands can play a positive disproportionate degree of GHG emissions,

constructive role in delivering the energy
role in building our shared energy future.
water consumption and land disturbance.
the world needs to grow and progress.
Many want to slow the pace of oil sands

Are the oil sands a responsible source
development and some would like to shut
Others strongly disagree, and that’s okay. of energy?
the industry down entirely.

Let’s get beyond polarization to the next Canada’s oil sands are expected to attract more
conversation and see if it can get us to a than $2 trillion* of investment over the next 25 There are some points on which we may likely

better place.
years. That capital is being drawn to a country never agree. But the question remains: can we
with a stable political climate, strong regulatory summon the energy to work towards solutions

oversight and an open economy that helps or will we ‘tip over’ to the point where
drive investment in technology and innovation.
polarization results in paralysis?
* Source: Canadian Energy Research Institute