Climate strategy
Sustainability
Climate
Details on our approach
Transformational R&D and technology
Sustained investment in research and development plays and important role.
We have invested more than 2.2 billion invested in research and development over the past 20 years.
We are developing pathways in support of a net-zero future.
Next-generation in situ oil sands technologies, such as cyclic solvent process, coupled with carbon capture and storage could produce incremental barrels at net-zero emissions.
Setting goals and targets
- We have reduced greenhouse gas emissions intensity in our operated oil sands by more than 20 per cent since 2013.
- We are focused on the achievement of our target to reduce greenhouse gas emissions intensity by 10 per cent by the end of 2023, relative to 2016 levels.
Mitigating emissions at our operations
- The cogeneration unit at our Strathcona refinery will reduce greenhouse gas emissions by approximately 112,000 tonnes per year.
- Kearl boiler flue gas is a first in Alberta oil sands with the potential to reduce 180,000 tonnes of greenhouse gas emissions per year.
Canada’s climate presents some distinct challenges for biofuels as current renewable fuel options have temperature limitations in cold weather. Our team is pushing past barriers and investigating new ways to produce fuels that not only reduce carbon intensity but improve fuel quality for our customers, even during Canada’s harsh winters."
Greg Rockwell
Helping our customers reduce their emissions
- Our advanced fuels help customers improve fuel efficiency today.
- Renewable fuels have the potential to significantly reduce emissions for our customers.
- We are helping customers better understand their choices with life cycle analysis: today, Kearl greenhouse gas emissions intensity is better than the global upstream crude average.
Engaging in public policy
Public policy is a key enabler to technology development and deployment. We actively monitor policy to inform our business planning and to assist policymakers seeking expertise about energy markets, technology and market competitiveness including policy options to support the transition that is needed for a net-zero future.
Imperial advocates for flexible, supportive public policy that is technology-neutral to enable development of the best pathways at the lowest cost to society.
Task Force on Climate-related Financial Disclosures (TCFD)
Climate content is guided by the core elements of the framework developed by the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD).Governance
Imperial’s board provides oversight and assesses company performance on the management of risks of climate change.
Metrics and targets
Imperial approaches the establishment and achievement of targets using clear, measurable goals with specific plans and actions to drive improvement in our business.
Strategy
Imperial is taking action towards addressing the risks of climate change by reducing our greenhouse gas intensity, supporting research that leads to technology breakthroughs, providing solutions for our customers to reduce their emissions and participating in constructive dialogue on policy options to support the transition that is needed for a net-zero future.
Risk management
Imperial uses a comprehensive risk management framework to identify and manage risk to the company.
Imperial supports the goals of the Paris Agreement as an important framework for addressing the risks and opportunities of climate change.
Resources