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View Report - SocialFunds.com

View Report - SocialFunds.com

Suncor is a pioneer of

Suncor is a pioneer of technological innovation— building a new industry from the oil sands that many said could not be developed economically. And we’re proud of our track record of innovation. Our ability to meet past challenges gives us the confidence to meet the challenges we face today. priorities, 2009-2010 Steepbank extraction plant construction site at Suncor’s oil sands facility. Building a sustainable energy company is work that’s constantly in progress. Here are some of Suncor’s priorities over the next two years: Operational Excellence Suncor will be focused on providing safe, reliable and cost-effective operations that respect the communities where we work and protect our shared environment. We expect improved performance across our business units, putting us on a more sustainable footing both today and when the time comes to resume our growth projects. Environmental Performance Achieve an industry first by creating a trafficable surface that has progressive reclamation well underway on Suncor’s original tailings pond in 2010. Advance dry tailings technology to accelerate future tailings pond reclamation efforts in keeping with new timetables set by government regulators. Implement Suncor’s new water management plan with the aim of becoming the industry’s lowest intensity water user. Continue working with the Integrated CO 2 Network (ICO 2 N), a group of 19 companies, on developing cost-effective options for carbon capture and storage (CCS) technology. Launch third phase (2009-2012) of the CO 2 Capture Project (CCP), a decade-long partnership of energy companies and government organizations, to advance CCS. This phase is expected to include pilot plants and demonstration projects. Continue to invest in renewable energy and to investigate emerging technologies such as geothermal and petroleum coke gasification that are aimed at improving energy efficiency and reducing greenhouse gas emissions. Implement a strategy to significantly accelerate the pace of land reclamation. Support multi-stakeholder efforts to secure conservation areas to offset lands disturbed by development. Develop and implement an environmental excellence strategy that clarifies and drives environmental performance improvement throughout the organization. Social Performance Continue the Journey to Zero safety program, applying lessons learned to further improve personal and process safety. Work closely with community leaders, Aboriginal groups and multi-stakeholder organizations on environmental, health and infrastructure concerns in regions where we operate. Recruit and retain top talent in the Wood Buffalo region and continue to forge partnerships with Aboriginal businesses. Economic Performance Achieve safe, reliable levels of production that maximize our operational capacity and generate employment opportunities, government revenues and economic growth. Assess potential growth projects on their merits, and proceed only when the economics are right. Strengthen relationships with suppliers through improved Systems, Applications and Process (SAP) services. Suncor Energy Inc. 16 2009 summary report on sustainability

Legal notice—Forward-looking statements This report contains forward-looking statements, including statements about future plans for production growth, that are based on our assumptions and that involve risks and uncertainties. Actual results may differ materially. All statements that address expectations or projections about the future, including statements about Suncor’s strategy for growth, expected and future expenditures, operating performance (which includes environmental, health, safety and regulatory compliance) and expected impact of future commitments, are forward-looking statements. Some of the forward-looking statements may be identified by words like “expected,” “believe,” “plans,” “milestone,” “targets,” “intended,” “pursue,” “looking,” “objective,” “could,” “would,” “investigate,” “estimates,” “goals,” “aims,” “focus,” “on track,” “opportunity,” “work to,” priorities,” and “strategies.” The forward-looking statements speak only of the date hereof and Suncor undertakes no duty to update these statements to reflect subsequent changes in assumptions (or the trends or factors underlying them) or actual events or experience. These statements are not guarantees of future performance and Suncor’s actual results may differ materially from those expressed or implied by its forward-looking statements. Readers are cautioned not to place undue reliance on them. The risks, uncertainties and other factors that could influence actual results include but are not limited to: changes in the general economic, market and business conditions; fluctuations in supply and demand for Suncor’s products, commodity prices and currency exchange rates; Suncor’s ability to respond to changing markets and to receive timely regulatory approvals; the successful and timely implementation of capital projects including growth projects and regulatory projects ;the accuracy of cost estimates, some of which are provided at the conceptual or other preliminary stage of projects and prior to commencement or conception of the detailed engineering needed to reduce the margin of error; the cumulative impact of other resource development; the integrity and reliability of Suncor’s capital assets; Suncor’s ability to comply with current and future environmental laws; the future potential for lawsuits against greenhouse gas emitters, based on links drawn between greenhouse gas emissions and climate change; the accuracy of Suncor’s reserve, resource and future production estimates and its success at exploration and development drilling and related activities; the maintenance of satisfactory relationships with unions, employee associations, joint venture partners, suppliers and customers; competitive actions of other companies, including increased competition from other oil and gas companies or from companies that provide alternative sources of energy; the uncertainties resulting from potential delays or changes in plans with respect to projects or capital expenditures; actions by governmental authorities including increasing taxes, changes in environmental and other regulations; the ability and willingness of parties with whom Suncor has material relationships to perform their obligations to Suncor; and the occurrence of unexpected events such fire, blowouts, freeze-ups, equipment failures and other similar events affecting Suncor or other parties whose operations or assets directly or indirectly affect Suncor. The foregoing important factors are not exhaustive. Many of these risks and other factors are discussed in Suncor’s current Annual Report, Annual Information Form/Form 40-F and other documents Suncor files with securities regulatory authorities.

2008 Corporate Sustainability Report - SocialFunds.com