Rich Kruger spoke before MPs today after comments he made in August threw into doubt Suncor’s emissions-reduction commitments as it focused on maximizing profits through fossil-fuel exploitation
Suncor Energy Inc. president and chief executive Rich Kruger waits to appear before the House of Commons standing committee on natural resources in Ottawa on Monday.remains committed to reducing its greenhouse gas emissions to net-zero by 2050, the chief executive officer has told a parliamentary committee, after controversially suggesting in the summer that the company would not prioritize long-term energy transition.
MPs spent an hour questioning Mr. Kruger about Suncor’s business plans, and what the company is spending to reduce emissions and lower its environmental footprint, particularly in light of the oil and gas sector’s record profits. He pointed to Suncor’s $1.5-billion spend to convert its oil sands mining sites to natural gas from coke to provide heat and steam for its operations, which will significantly reduce emissions, for example, and a pilot project to use solvents in its oil sands operations .
Mr. Kruger said Canada needs to figure out how to effectively and affordably decarbonize the oil and gas sector, to ensure it can retain its share of a fossil-fuel market that global outlooks forecast will remain the world’s largest source of energy for years to come.
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