Our ESG focus areas & targets
Working with global experts, we conducted a robust ESG materiality assessment to determine our focus areas. Recognizing that safety & asset integrity and governance remain foundational to all that we do, five ESG focus areas have been identified. We established targets in each of our focus areas that we believe are meaningful and ambitious yet achievable:
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Our five ESG focus areas
CLIMATE & GHG EMISSIONS
Reduce absolute GHG emissions by 35% by year-end 2035.1
Reach long-term ambition for net zero emissions by 2050.
WATER STEWARDSHIP
Reduce fresh water intensity by 20% in oil sands and in thermal operations by year-end 2030.
BIODIVERSITY
Reclaim 3,000 decommissioned well sites by year-end 2025.
Restore more habitat than we use in the Cold Lake caribou range by year-end 2030.
INDIGENOUS RECONCILIATION
Achieve a minimum of $1.2 billion of spending with Indigenous businesses between 2019 and year-end 2025.
Attain Progressive Aboriginal Relations gold certification from the Canadian Council for Aboriginal Business by year-end 2025.
INCLUSION & DIVERSITY
Increase women in leadership roles2 to 30% by year-end 2030.
Conduct a self-identification survey by year-end 2022; add diversity target beyond gender in 2023.
Aspire to have at least 40% representation from designated groups3 among non-management directors. including at least 10% women by year-end 2025.
Note: Targets include start year: 2019 for emissions, water intensity, well reclamation and Indigenous business spend; 2016 for caribou habitat restoration.
1 Emissions reductions are in reference to scope 1 and 2, on a net equity basis.
2 Leadership roles include Team Lead/Coordinator/Supervisor positions or above.
3 Designated groups are defined as women, Indigenous peoples, persons with disabilities and members of visible minorities. -
ESG report
Read our environmental, social & governance (ESG) report to learn more about our ESG targets and performance.
