Suncor CEO tells committee his company is committed to being part of the climate solution

📆 16/10/2023 18:16:00
📰 iPoliticsCA

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Suncor CEO Rich Kruger appeared before the House committee on natural resources, where he fielded question from MPs on comments made earlier this year about how his company has placed too much importance on the energy transition.

Suncor Energy Inc. president and CEO Rich Kruger waits to appear before the House of Commons Standing Committee on Natural Resources in Ottawa, Monday, Oct. 16, 2023. THE CANADIAN PRESS/ Patrick Doyle

Appearing before the House committee on natural resources, Suncor CEO Rich Kruger defended comments made earlier this year about how his company has focused too much on the energy transition. In August, Kruger told shareholders he believed Suncor had put a “disproportionate emphasis on the longer-term energy transition,” adding that lowering emissions will not make the company money. What followed was intense backlash from the environmental community and an invitation from the committee to appear as a witness and clarify his comments.

While Kruger didn’t back away from his remarks, he said they were meant to illustrate how Suncor must be in a solid position before it starts prioritizing emissions reduction. He reiterated Suncor’s commitment to achieving net-zero emissions from operations by 2050 and said he thought his comments had been misinterpreted by several committee members who wrongly believed the energy giant did not care about fighting climate change.

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