Suncor makes net-zero pledge

Investor pressure convinces Canadian company to confront emissions, but upstream growth remains focus

The Canadian oil sands sector is starting to get serious about its carbon-intensive emissions. Last year, Calgary-based operator Cenovus and industry peer Husky Energy both announced net-zero pledges, with the companies later agreeing to merge. And now major oil sands producer Suncor has pledged to achieve net-zero emissions from its operations by 2050. The first pillar of Suncor’s net-zero strategy will be to cut emissions by 10mn t annually through to 2030. In 2019, this figure represented a 35pc share of operational emissions. At the same time, the oil sands producer has set itself the goal of lifting upstream production by 14pc over the next five years. “Our upstream production is expect