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Suncor Energy Inc
Symbol SU
Shares Issued 1,285,837,925
Close 2024-06-07 C$ 52.25
Market Cap C$ 67,185,031,581
Recent Sedar Documents

Globe says Cenovus Energy, rivals pan emissions cap

2024-06-07 07:12 ET - In the News

See In the News (C-CVE) Cenovus Energy Inc

The Globe and Mail reports in its Friday, June 7, edition that the chief executive officers of Canada's largest oil companies opposed a federal emissions cap during their appearance before a parliamentary committee, where they discussed the sector's efforts to reduce its environmental impact. The Globe's Emma Graney and Marieke Walsh write that the CEOs of Cenovus Energy, Imperial Oil and Suncor Energy, and the presidents of Shell Canada and Enbridge all appeared via video conference. They testified in response to a request from the House of Commons Environment and Sustainable Development Committee. Suncor CEO Rich Kruger called the proposed federal emissions cap "unnecessary regulation," but he expressed support for a nationwide carbon pricing mechanism. Mr. Kruger stated, "I believe that will drive the innovation and create economic incentives for all of us to continue improving our businesses." Cenovus CEO Jon McKenzie and Brad Corson, CEO of Imperial, both agreed that a cap was not necessary for the oil and gas sector, citing significant regulatory incentives already in place. "I think you just need to judge us by our actions, and you'll see continued reductions in our emissions," Mr. Corson said.

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