April 28, 2016
*40% of Shareholders Ask Suncor for Transparency Regarding Payments to Influence Public Policy*
*Proxy Advisor Institutional Shareholder Services Supports Resolution*
CALGARY -- Today at the Annual General Meeting of Suncor shareholders, advocates from SumOfUs, representing Suncor shareholders, presented a proposal calling on the company to disclose the lobbying payments made by Suncor Energy.
The shareholder resolution is intended to bring international standards of transparency and accountability to the Canadian oil and gas sector. The resolution asks Suncor to disclose payments it makes to lobbyists, trade associations, and grassroots campaigns to influence public policy. Leading independent proxy advisory firms Institutional Shareholder Services and Glass Lewis & Co had recommended that shareholders vote in favor of the proposal.
In a strong call for reform, 40% of Suncor shareholders voted in favor of the resolution.
In a statement responding to the vote, Emma Pullman, lead campaign strategist for SumOfUs explained:
"Today, a very significant number of Suncor shareholders voted in favour of accountability and transparency -- and that is very exciting. This vote shows that Suncor's shareholders are hungry for greater disclosure about the company's controversial lobbying activities it employes with shareholder retirement savings. We look forward to monitoring Suncor's progress, and are eager to see other companies following Suncor’s lead.”