At Suncor, we’re optimistic that collaboration and innovation enable us to do both. While transforming the energy system is one of the most complex tasks the world has faced, we can accelerate progress. We’re seeing businesses mobilize and collaborate on climate action like never before.

Last year, for example, we invested 635 million Canadian dollars to develop and deploy technology in this field, including innovations that could reduce greenhouse gas emissions from operations by up to 80 percent. Our Fort Hills oil sands mine uses paraffinic froth treatment technology to cut the greenhouse gas emissions intensity of each barrel of oil produced there to be on par with the average refined barrel in North America.

We also are investing in energy-efficient cogeneration technology to reduce emissions from burning petroleum coke and export low-carbon power to Alberta’s grid so the province can transition from coal-based power generation. This will reduce greenhouse gas emissions by 2.5 million tons per year, equivalent to removing 550,000 vehicles from the road.

Mark Anthony Gyetvay

Chief financial officer, Novatek

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Climate change is the defining topic of our generation and ultimately impacts everyone and all companies globally. It is our responsibility — the oil and gas industry — to ensure that we are doing everything possible to mitigate our carbon footprint and facilitate the transition to clean-burning energy. With energy demand forecast to rise over the coming decades, we must ensure affordable and secure energy supplies are available in a sustainable manner.

At Novatek, sustainable development is integral to our corporate strategy and embedded in our decision-making process. When we consider development projects, such as our large-scale liquefied natural gas projects, the ecological and environmental impacts are fully studied and plans are implemented to mitigate negative consequences. We engage all of our stakeholders in the review process.

Although climate science is calling for the reduction in fossil fuels, I believe the imminent demise of fossil fuels is overstated and the rapid transition to renewable sources of fuels will not solve this existential question. Natural gas is a clean-burning fuel and will be an important part of this energy transition. We will do our part to facilitate this energy transition by promoting natural gas as part of the climate change dialogue and solution.