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:
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Our five ESG focus areas
CLIMATE & GHG EMISSIONS
Reduce absolute GHG emissions by 35% by year-end 2035.
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 roles1 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 groups2 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. Emissions reductions are in reference to scope 1 and 2, on a net equity basis.
1 Leadership roles include Team Lead/Coordinator/Supervisor positions or above.
2 Designated groups are defined as women, Aboriginal peoples, persons with disabilities and members of visible minorities.
