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Climate change

Climate change is a complex challenge and requires a combination of innovative technologies, business evolution and forward-thinking partnerships. We have identified strategic initiatives to ensure immediate, tangible action toward our energy transition strategy as we evolve for a low-carbon future. 

Initiatives include carbon capture and sequestration, low-carbon hydrogen, renewable natural gas, biofuels, electrification and other emerging technologies. 

We continue to pursue renewable energy opportunities and develop, assess and invest in a portfolio of short-, medium- and long-term decarbonization opportunities. 

 

Our targets:
We are working to achieve our energy transition goals
through key focus strategies. 

  • Greener refineries

    We will work to lower emissions and enhance operational efficiencies that provide opportunities to diversify feedstock and product offerings in supporting long-term competitiveness and sustainability. Our team will identify opportunities to integrate low-carbon processes and green electricity for the energy transition process through investments in new technology and infrastructure.

  • Hydrogen and new energy

    We strive to lead emerging hydrogen markets by driving demand, leveraging technology, advocating policy changes, and offering a safe, competitive, and reliable hydrogen solution for users. We will work to pursue renewable energy opportunities to advance our sustainability goals through an informed and staged approach that leverages ongoing pilot projects.

  • Biofuels

    Biofuels represent a significant opportunity with demand forecast to grow, driven by increasing regulatory obligations, government incentives and decarbonization goals. We have expanded investments in our ethanol blending initiatives, with a focus on emerging technology and local feedstocks.

  • Energy trading

    The energy transition has created challenges, but also opportunities associated with the trading of traditional and emerging, low-carbon energy products. While our work in the energy trading space is considered an opportunity as it aligns with our core markets, we remain thoughtful in our approach while we monitor signals and signposts.

  • Other customer-facing business 

    We will continue to build on the strength of our retail portfolio, focused on generating new value from alternative fuels and in-store revenue, while also incorporating renewable energy options. Aligned with our aspiration to decarbonize our retail and fleet network, we have introduced pilot retrofits at existing retail locations to reduce carbon intensity and pursue energy efficiency opportunities.