Suncor to disclose more information on carbon risk, lobbying

Mon Apr 18, 2016 9:34am EDT
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April 18 (Reuters) - Suncor Energy, Canada's largest oil and gas company, said it would disclose more details on its plans to compete in a lower-carbon future and on its lobbying activities.

Several oil and gas companies, including Exxon Mobil and Anadarko Petroleum Corp, have been under pressure from regulators and shareholders to disclose more details on their climate change strategies.

In Canada, Prime Minister Justin Trudeau has pledged to do much more than the previous Conservative government to curb emissions of greenhouse gases, which are climbing as firms exploit Canada's vast crude-rich oil sands.

Last month, Trudeau persuaded Canada's 10 provinces to accept the concept of putting a price on carbon but agreed the specific details could be worked out later.

Suncor said it would provide the details in its sustainability report in July.

Suncor also said it would provide more information related to its policy on lobbying and political donations.

The company said it would list trade associations that lobby government to which it pays membership fees of greater than $50,000 and $100,000 per year. (Reporting by Arathy S Nair in Bengaluru; Editing by Saumyadeb Chakrabarty)