Suncor Shareholders Call for Greater Transparency Around Lobbying

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April 28, 2016

*Suncor Shareholders Call for Greater Transparency Around Lobbying *

Leading Proxy Advisors Support Resolution

CALGARY – On Thursday, April 28th, at the Annual General Meeting of Suncor shareholders, advocates from consumer watchdog SumOfUs, representing Suncor shareholders, will present a proposal calling on the company to disclose payments made by Suncor Energy to corporate front groups and for lobbying policymakers.

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.

VIEW THE RESOLUTION HERE

Leading independent proxy advisory firms Institutional Shareholder Services and Glass Lewis & Co have recommended that shareholders vote in favor of the proposal. In addition, thousands of Canadians wrote directly to their pension funds asking them to vote FOR the proposal using the VoteYourPension site.

“This groundbreaking shareholder proposal is a powerful tool to encourage transparency at Suncor and in the oil sands sector more broadly,” said Emma Pullman, Vancouver-based lead campaign strategist for SumOfUs. “We hope Suncor shareholders vote for accountability today, because thousands of Canadians don't want their mutual funds and retirement savings to fund controversial lobbying tactics.”