Imperial providing energy security while reducing emissions

Imperial’s CEO Brad Corson addressed the federal Standing Committee on Environment and Sustainable Development on June 6, outlining the company’s efforts to supply Canada’s energy needs reliably, safely, and securely while reducing emissions and benefiting the economy.

In his opening statement, Corson acknowledged that Imperial operates on the traditional territories of First Nations, Métis, and Inuit communities and expressed the company’s commitment to reconciliation.

He emphasized the crucial role of oil and gas production and petroleum manufacturing in Canada’s energy security and economic prosperity, citing job creation and significant tax and royalty revenues.

Corson highlighted Imperial’s dedication to emission reduction through various initiatives, including lowering GHG intensity in operations, providing low life-cycle emission products, and launching a low carbon solutions business. The company aims to achieve net-zero scope 1 and 2 emissions from operated assets by 2050.

He noted Imperial’s progress in reducing GHG intensity in oil sands facilities and outlined plans to further decrease intensity by 30 percent compared to 2016 levels by 2030. Corson highlighted specific initiatives such as energy efficiency improvements, solvent technologies, renewable diesel usage, and carbon capture and storage projects.

Corson also discussed recent achievements, including the Grand Rapids project at Cold Lake and the renewable diesel project at Strathcona Refinery, which will produce over one billion liters of renewable diesel annually, reducing emissions for customers by about 3 million metric tons per year.

Imperial is also exploring lithium extraction from brine and bio-based co-processing to reduce carbon intensity in finished products. Corson emphasized the company’s long-term investments and commitment to innovation, despite commodity price fluctuations.

He stressed the importance of collaboration between government, industry, customers, and Indigenous communities to achieve Canada’s energy and emission reduction goals. Corson concluded by expressing pride in Imperial’s contributions to Canada’s energy landscape and commitment to a lower-emission future.

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