Suncor and VanCity given top marks on sustainability reporting in Canada

Suncor Energy and VanCity Credit Union received top scores in a Canadian survey of corporate sustainability reporting by Stratos Inc., a sustainability consulting company.

Calgary-based Suncor Energy and VanCity of Vancouver scored 78 per cent and 75 per cent respectively in a survey of 35 of the top sustainability reporters in Canada. The survey measured the quality and comprehensiveness of reported sustainability information. Stratos emphasized in its report that the survey measured the quality of reporting, not social and environmental performance.

Suncor and VanCity scored 16 per cent and 13 per cent respectively above the next highest score, "establishing a significant standard of excellence for Canadian reporters," stated the report, entitled Building Confidence: Corporate Sustainability Reporting in Canada. The survey was conducted by Stratos in conjunction with Allan Willis and Associates. The report was issued in December.

Stratos also compared the Canadian reports with the five international reports identified as among the best in the world by the 2002 SustainAbility and UN Environment Program survey, entitled Trust Us. Suncor tied for third place and Vancity scored fifth. The top international reports were BT (87 per cent), The Co-operative Bank (86 per cent) and Royal Dutch/Shell (78 per cent). "Some Canadian reporters are among the best in the world, although considerable improvement is required in order for many Canadian reporters to attain true international best practices," said Stratos.

Other top Canadian companies include: Suncor (78), VanCity (75), Hydro-Quebec (62), Petro-Canada (62), Enbridge (59), Weyerhaeuser (59), PotashCorp (57), Dofasco (56), Syncrude (55), BC Hydro (54) and Ontario Power Generation (54).

Stratos said a growing number of companies are examining the link between business value and sustainability. However, few are quantifying the financial impact of a company's sustainability initiatives.

"There is need for continued experimentation with indicators that would provide relevant information to investors...In our view, part of the way forward in addressing this challenge lies in ensuring that sustainability reports address all issues that are "material" to the financial performance and shareholder value of the reporting company. Another part of the way forward lies in identifying, engaging with and responding to the concerns of key stakeholders."

For more information, visit www.stratos-sts.com.

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