FIELD ACTIVITIES / Suncor Energy Continues to Take Action on Climate Change
Projects in Australia and Canada to Support Research, Reduce Greenhouse
Gases and Promote Education
BANFF, AB, Nov. 2 /CNW/ - On the eve of the Buenos Aires summit on global
climate change, Suncor Energy executive Barry Stewart outlined three new
additions to the company's climate change action plan -- a major reforestation
study in Australia, an energy efficiency program in Alberta schools, and a
Canadian climate change education program.
Stewart says corporations and countries need to take a broad, innovative
approach in order to meet the goals of the Kyoto agreement. For Suncor, this
includes reducing emissions through improving energy efficiency within its own
operations, as well as flexibility mechanisms such as alternative energy
development, supporting environmental and economic research, and pursuing
domestic and international offsets. ''Our position is action-oriented,'' says
Stewart. ''We are striving to stabilize Suncor's emissions in spite of our
aggressive growth plans.''
Stewart pointed to the company's most recent actions during an address on
Friday to the 1998 Banff Diplomatic Forum. He noted three recent developments
as examples of Suncor's commitment to leadership and early action to address
the risk of climate change:
- In Australia, Suncor Energy will join Southern Pacific Petroleum N.L.
and Central Pacific Minerals N.L. (SPP/CPM) with an innovative
technology program that involves the development of several trial
reforestation projects. Representing a total investment of over AU$3.5
million over four years, the projects will involve the planting of more
than 180,000 native trees in central Queensland to capture carbon
dioxide. The trials are the first of their kind in Queensland and the
largest ever undertaken in Australia. Suncor and SPP/CPM are currently
in the initial phase of the Stuart Oil Shale Project, designed
demonstrate the application of new technology to oil shale development
in Australia. The reforestation project will study the use of
reforestation as a ''carbon sink'' to partially offset greenhouse gas
emissions from potential future oil shale development. If the trials
are successful, it could lay the groundwork for a major plantation
offset program.
- In Alberta, Suncor will be the first company to provide financing
support to schools as part of the Destination Conservation program,
which works with Canadian schools to reduce energy use through
lifestyle education and equipment retrofits. Suncor's five-year,
CDN$300,000 contribution will allow retrofit financing to be
interest-free to over 20 schools, helping to expand the participation
of Alberta schools in the program. The greenhouse gas reductions
resulting from Suncor's participation in the project will help the
company meet its greenhouse gas emissions reduction targets and support
Canada's commitments under the Kyoto accord.
- As part of its commitment to public education, Suncor is a sponsor of
the Pembina Institute's Climate Change Teacher Support program. The
purpose of this formal education program is to provide Canadian
secondary school teachers with the knowledge and tools needed to teach
about climate change and will include in-depth two-day teacher seminar,
half-day teacher support workshops and an expansion of the Institute's
Climate Change and Awareness and Action Education kit (English and
French) into separate Science and Social Studies teaching packages. The
federal government is also a key sponsor of this program.
Bjorn Stigson, President, World Business Council for Sustainable
Development, said he supports Suncor's initiatives. ''Proactive companies such
as Suncor are providing the leadership to the challenges of climate change,''
says Stigson. ''Through their voluntary actions, they are showing they are
part of the solution, and have the innovation and dedication to make real
change.''
Suncor Energy is committed to leadership and action on the global climate
change issue in seven areas: continuing to manage the company's own greenhouse
emissions and their impact; developing renewable sources of energy; supporting
environmental and economic research; pursuing domestic and international
offsets; providing constructive public policy input; educating and engaging
stakeholders; and measuring and reporting on the company's progress.
Suncor Energy is a Canada-based international integrated energy company
operating an oil sands plant in Fort McMurray, Alberta; a conventional
exploration and production business in Western Canada; a refining and
marketing operation in Ontario; and an oil shale development project in
Queensland, Australia. Suncor Energy common shares are listed for trading on
the Toronto, Montreal and New York stock exchanges.
ERT HAILS INNOVATIVE VOLUNTARY ACTIONS BY SUNCOR ENERGY
Environmental Resources Trust To Provide Independent Emissions Accounting
for Canadian Oil Company On Innovative Emissions Transactions
(2 November, 1998 -- Washington) The Environmental Resources Trust (ERT)
affirmed today its agreement to assist Calgary-based Suncor Energy Inc. in
supporting two innovative projects which will reduce greenhouse gas emissions
and provide other ancillary environmental benefits.
The first project is an energy efficiency program in Alberta schools that
reduces greenhouse gas emissions. Suncor joined with the Government of
Alberta, Honeywell Limited and Alberta school boards, to support the
Destination Conservation program, which works with Canadian schools to reduce
energy use through lifestyle education and equipment retrofits. The second
project is an innovative technology program that includes reforestation trials
in various parts of Australia. Suncor is partnering with Southern Pacific
Petroleum N.L. and Central Pacific Minerals N.L. on this project.
Any greenhouse gas emission reductions achieved by the projects will be
reviewed by ERT as part of an agreement previously entered into with Suncor to
provide comprehensive reporting and tracking of the company's total greenhouse
gas (GHG) emissions and GHG reductions portfolio. ERT, a not-for-profit
organization, was founded in 1996 with the assistance of the Environmental
Defense Fund (EDF) to promote, support and carry out pioneering transactions -
such as the creation and transfer of pollution reductions - that produce net
environmental benefits. Under the projects announced today, ERT will work
with Suncor to develop a protocol for validating, reporting and tracking the
GHG emissions reductions created through the energy efficiency applications
and reforestation activities.
''The potential for real, measurable reductions in greenhouse gases
creates a direct incentive for Suncor to sponsor energy efficiency activities
and forestry projects. In turn, this enables institutions like school
districts, which are frequently budget-conscious, to afford energy efficiency
upgrades today despite the fact that the equipment may have a payback period
of many years. The bottom line is that these investments are encouraged now
and the environment benefits from early emissions reductions,'' said ERT board
member Daniel J. Dudek, who is also a senior economist at EDF.
''All parties to these projects are winners. Most importantly, students
win; the environment wins. And because of Suncor's commitment to track its
overall emissions performance, ERT will help track the emissions reductions
and ensure they are real, quantifiable and surplus,'' said Joseph Goffman,
also a board member of ERT, and an EDF senior attorney.
ERT's goal is to demonstrate market transactions that have net
environmental benefits, stimulate development of markets for these
environmental benefits, and produce economic returns that generate
reinvestment funds for financing additional environmentally-beneficial
projects. |
