Suncor Energy Invests $13.8 Million in Charitable and Non-profit Groups
All figures in Canadian dollars.
CALGARY, Feb. 25 – Suncor Energy today announced it invested $13.8 million in more than 700 charitable organizations and non-profit groups in 2008. Approximately $8.5 million of that total was invested through the Suncor Energy Foundation, which supports charitable organizations in Canada. An additional $5.3 million was invested by different Suncor businesses through cash and in-kind contributions.Suncor’s and the Suncor Energy Foundation’s investments in 2008 were focused in four priority areas:
Cathy Glover, director, community investment and the Suncor Energy Foundation, says the success of these investments goes beyond numbers. “The amount we invest is just one measure of success,” she comments. “Suncor employees’ efforts are also a big part of what we do. From United Way contributions to coaching local sports teams, Suncor’s people lead the way when it comes to connecting with and strengthening their communities.”
Investing in communities continues to be a core value for Suncor. We are committed to working with community partners to help address the challenges of the current economic climate. Our support for community endeavors is one reason that Suncor is consistently named among Canada’s top companies for corporate social responsibility, and as a top employer.
Over the next decade, the Foundation’s board of directors intends to build on relationships and partnerships with community organizations, to strengthen their capacity for leadership and growth. “Our approach to investment has evolved from reacting to requests for funding to planning and partnering,” says Glover. “Our goal is to find innovative and focused investment opportunities that have the greatest impact in our communities.”
In 2008, the Suncor Energy Foundation marked its tenth anniversary. Over the past decade, Suncor and the Foundation have invested more than $74 million in community, educational and environmental initiatives.
This news release and related backgrounder contains forward-looking statements identified by the words “working with”, “goal”, “announced” and similar expressions that address expectations or projections about the future. Forward-looking statements are based on current goals, expectations, estimates, projections and assumptions made in light of its experiences and the risks, uncertainties and other factors related to its business. Readers are cautioned that actual results could differ from those expressed or implied.
Suncor Energy Inc. is an integrated energy company headquartered in Calgary, Alberta. Suncor’s oil sands business, located near Fort McMurray, Alberta, extracts and upgrades oil sands and markets refinery feedstock and diesel fuel, while operations throughout western Canada produce natural gas. Suncor operates a refining and marketing business in Ontario with retail distribution under the Sunoco brand. U.S.A. downstream assets include pipeline and refining operations in Colorado and Wyoming and retail sales in the Denver area under the Phillips 66(R) brand. Suncor’s common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.
Suncor Energy (U.S.A.) Inc. is an authorized licensee of the Phillips 66(R) brand and marks in the state of Colorado. Sunoco in Canada is separate and unrelated to Sunoco in the United States, which is owned by Sunoco, Inc. of Philadelphia.
The Suncor Energy Foundation is a private, non-profit charitable foundation established by Suncor to receive Suncor’s contributions and support registered Canadian charitable organizations. Its funding priorities are educational, environmental and community-based initiatives that primarily support Suncor’s operating communities. Since its inception in 1998, the Foundation has contributed more than $57 million to Canadian communities.
For more information on the Suncor Energy Foundation and Suncor’s community investment activities, visit www.suncor.com/community.
For further information: Media inquiries, contact: Shawn Davis, (403) 920-8379