CALGARY, ALBERTA–(Marketwired – Nov. 22, 2015) – Four of Canada’s largest oil sands producers have come together to demonstrate leadership on climate change. Canadian Natural Resources Limited, Cenovus Energy Inc., Shell Canada Limited and Suncor Energy Inc., support the Government of Alberta’s climate plan related to the oil and natural gas industry, which includes a carbon pricing regime coupled with an overall emissions limit for the oil sands. These measures provide predictability and certainty and will help ensure that producers can responsibly develop and grow this significant Canadian resource while also addressing global concerns about climate change.

The companies agree that this is a historic development for Alberta and Canada that will change the conversation about climate change, oil sands and infrastructure. They are proud to have worked with leading environmental organizations to better understand each other’s views and recommend solutions for the oil and natural gas industry that helped inform the policy.

By directing revenue generated from the new carbon pricing regime towards the development of potentially game-changing greenhouse gas (GHG) reduction technologies, this made-in-Alberta plan lays the foundation for the province to become a global leader in addressing the climate change challenge. It also creates the conditions for Alberta’s oil to become carbon competitive on the global stage and for Canadians to begin receiving full value for their oil exports.

By demonstrating that Alberta is willing to lead the way with an ambitious climate plan, the province can become a preferred source for oil and create sustained wealth and jobs for future generations of Albertans and Canadians.

Producer comments on today’s ground-breaking announcement:

“Industry has seen results from working together,” said Murray Edwards, Chairman, Canadian Natural. “This announcement removes barriers for collaboration with a broader group of stakeholders. We are all now working together to realize the full value provided by the oil and natural gas industry, including jobs, economic benefits and government revenues in a way that addresses the challenges associated with climate change.”

“We fully support the Government’s new climate policy direction,” said Brian Ferguson, President & Chief Executive Officer of Cenovus Energy. “It enables Alberta to be a leader, not only in climate policy, but also in technology, innovation, collaborative solutions and energy development. I believe it will lead to Albertans and Canadians receiving full value for their oil and natural gas resources, while addressing climate change.”

“Canadians have high expectations of themselves when it comes to protecting the environment and managing economic growth, and the world expects much of Canada,” said Lorraine Mitchelmore, President and Country Chair Shell Canada and EVP Heavy Oil for Shell. “Alberta’s new climate change policy sends a clear message that Alberta intends to live up to those expectations. Today’s announcement sets Canadian oil on the path to becoming the most environmentally and economically competitive in the world.”

“Today we reach a milestone in ensuring Alberta’s valuable resource is accompanied by leading carbon policy,” said Steve Williams, President and Chief Executive Officer, Suncor. “It’s time that Alberta is seen as a climate, energy and innovation leader. This plan will make one of the world’s largest oil-producing regions a leader in addressing the climate change challenge.”

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