18:14:15 EDT Tue 30 Apr 2024
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or Name
USA
CA



Suncor Energy Inc
Symbol SU
Shares Issued 1,288,071,490
Close 2024-03-27 C$ 49.50
Market Cap C$ 63,759,538,755
Recent Sedar Documents

FP says Suncor Energy AGM to feature duelling proposals

2024-03-28 08:57 ET - In the News

The Financial Post reports in its Thursday, March 28, edition that at the upcoming annual meeting in May, Suncor Energy will face duelling shareholder proposals. The Post's Chris Varcoe writes that one seeks more disclosure about Suncor's climate transition strategy. The other calls for the oil sands producer to scrap its commitment to reach net-zero emissions by 2050. "I haven't seen anything like that before, but it just goes to show how controversial it all is," said Laura Lau, chief investment officer of Brompton Group, which owns shares in Suncor. While the United States has seen a pushback in recent years against ESG (environment, social and governance) and efforts to have investors exit fossil fuel companies due to climate concerns, there have been far fewer such efforts in Canada. However, at Suncor's annual meeting, Suncor investors will vote on a proposal by Investnow, a non-profit group that "challenges the divestment movement and advocates for investment in Canada's oil and gas sector," according to Suncor's new management proxy circular. "Net zero by 2050 means massive declines in the use of coal, oil and gas," Investnow says in its supporting statement.

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