- Suncor Energy (SU -0.8%) says it plans to meet a new emissions target by 2030, cutting emission intensity - a measurement of emissions per barrel - by 30% as part of a broader strategy to tackle climate change.
- SU says it will try to reach the target with a broad range of measures, such as developing new technologies to extract bitumen and generating electricity with renewables.
- SU says the current oil downturn is the right time to address climate change because it is redesigning processes and businesses anyway, and that it is important to adjust in anticipation of market demand for lower emissions.