Suncor Energy Inc.

Suncor Energy Inc.

February 25, 2009 00:00 ET

Suncor Energy invests $13.8 million in charitable and non-profit groups

All figures in Canadian dollars.

Calgary, Alberta (February 25, 2009) 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:

  • $6.9 million for community projects, including programs that support Aboriginal initiatives
  • $3.7 million for educational programs, specifically in skilled trades, science and technology
  • $2.3 million for environmental initiatives including conservation projects and community education initiatives
  • $850,000 on behalf of more than 600 employees who volunteered and fundraised in their communities.

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® 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® 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.

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Media inquiries, contact:
Shawn Davis
(403) 920-8379

BACKGROUNDER: Suncor Energy 2008 community investment highlights

All figures in Canadian dollars.

Suncor invested in more than 700 charitable organizations and non-profit groups in 2008, helping support everything from science fairs to family clinics. Community investments by Suncor Energy and the Suncor Energy Foundation included the following projects:

Community:

  • Announced $2 million over five years to the Northern Lights Regional Health Foundation.
  • Announced $2.5 million over five years toward development of a performing arts centre attached to the new Holy Trinity Catholic High School in Fort McMurray's Timberlea area. The centre is planned to incorporate a 350-seat theatre, a professional dance studio and associated facilities, and is expected to be used by the school's performing arts programs as well as other community arts groups.
  • Celebrated the opening of the Sustainability Centre at Lambton College in Sarnia, Ontario. The new centre marks the culmination of a three-year $1.05 million commitment.
  • Announced $311,000 over five years to Denver's Road Home and $750,000 over three years to the Calgary Committee to End Homelessness. Both organizations are working to provide people facing homelessness with access to safe, decent and affordable housing as well as the resources and support necessary to sustain it.
  • $100,000 to the Boys and Girls Club of Metro Denver, Colorado which provides structured youth activities, direction and positive adult interaction for youth.
  • $10,000 to Safe Kids of Wyoming, an organization that focuses on preventing childhood injuries.
  • $2.6 million from Suncor employees and the Suncor Energy Foundation for United Way campaigns in communities where Suncor operates, including Calgary, Edmonton, Grande Prairie, Fort McMurray, Sarnia, Toronto and Denver.

Education:

  • Announced $2 million over five years to the Telus World of Science - Calgary. The investment will fund the Suncor Energy Foundation Design It! gallery in the new science centre. The gallery will create an environment for teens and young adults, where unusual combinations of art, science, technology, style and music can inspire innovative thinking.
  • Announced $600,000 over three years to the University of Calgary Suncor Energy Foundation Chair in Competitive Strategy and Sustainable Development. The mandate of this position is to strengthen the energy industry by advancing knowledge in environmental management and sustainable development. The Foundation has been supporting this Chair since 1998.
  • $37,500 to the expansion of the skilled trades and apprenticeship program at Mohawk College in Ontario.
  • $10,000 to Junior Achievement of Sarnia, Ontario, for the Economics of Staying in School program.
  • $124,000 to Red Rocks Community College. The donation will help expand the school's customized education programs for process operators and craft technicians and fund scholarships for students entering the process technology program.

Environment:

  • Announced $1.5 million over five years to the Ducks Unlimited Western Boreal Program to help enhance conservation of wetlands in the western boreal forest region. Work is expected to include gathering and sharing examples of best practices in the oil and gas industry, coordinating research into watershed function, and helping to raise awareness of the importance of wetlands.
  • Announced $1.5 million over three years to the Alberta Conservation Association (ACA) Boreal Habitat Initiative. Through this partnership, Suncor and ACA are looking for sustainable ways to offset the land disturbances of our oil sands developments.
  • Announced $1.2 million over five years to support Greenprint Denver and the Governor's goal to plant one million trees throughout the Denver region by 2025.
  • $675,000 over three years to Earth Day Canada, an environmental education program that provides Canadians with practical knowledge and tools to lessen their impact on the environment. In partnership with Sunoco retailers in Ontario, Earth Day events take place in five communities including eco-festivals and tree planting.
  • Announced $150,000 per year over three years to the Regional Municipality of Wood Buffalo public education and awareness program for recycling in Fort McMurray and area.
  • $35,000 combined investment to environmental education initiatives including the Alberta Council for Environmental Education, and the Colorado Alliance for Environmental Education.