OH&S Canada magazine (Summer 2022)
An activist investor is raising concerns about Suncor energy’s recent safety track record, suggesting there might be a broader managerial problem at the company.
Elliott investment management letter calling for changes to Suncor’s board and a review of its executive leadership.
Elliott said Suncor must over late safety culture. Since 2014, there have been 12 workplace deaths at Suncor sites, which Elliott said is more than all the company’s closest peers combined.
Analyst say investors care about safety performance because it’s an end indicator on how well run a company is.
Take companies that have a high number of on-the-job injuries tend to have problems in other areas too, like production and efficiency.
Sustainable investment practices also mean investors are putting more focused on social issues like workplace safety.
My opinion
The only blog post I can find, on Suncor, is blog post #161. It dealt with a Hydrogen Sulphide leak and the plant was shut down.
It has been my opinion that Suncor is allowed to run, unabated, with safety violations and have been allowed to do so for a very long time.
Mind you, the Alberta government has had a weak history when dealing with health and safety issues, especially those in the oil industry. The reader will find that the fines are unusually small with a donation attached to most fines, if fines are levied at all.
Quebec, British Columbia, Newfoundland and Ontario, (though not in any order) have worked much harder to protect workers on their sites.
HRS Group Inc. has a great team that can help you with all your health and safety needs. Contact Deborah toll free at 1-877-907-7744 or locally at 705-749-1259.
Ensure your workplace is a safe place.
Remember – In Canada, “ALL Accidents are Preventable”
‘Work’ and ‘Play’ safe.
Daniel L. Beal
CHSEP – Advanced Level
CEO & Senior Trainer
HRS Group Inc.
Elliott investment management letter calling for changes to Suncor’s board and a review of its executive leadership.
Elliott said Suncor must over late safety culture. Since 2014, there have been 12 workplace deaths at Suncor sites, which Elliott said is more than all the company’s closest peers combined.
Analyst say investors care about safety performance because it’s an end indicator on how well run a company is.
Take companies that have a high number of on-the-job injuries tend to have problems in other areas too, like production and efficiency.
Sustainable investment practices also mean investors are putting more focused on social issues like workplace safety.
My opinion
The only blog post, I can find, on Suncor is blog post #161. It deals with a Hydrogen Sulphide leak and the plant was shut down.
It has been my opinion that Suncor is allowed to run, unabated, with safety violations and have been allowed to do so for a very long time.
Mind you, the Alberta government has had a weak history when dealing with health and safety issues, especially those in the oil industry. The reader will find that the fines are unusually small with a donation attached to most fines, if fines are levied at all.
Quebec, British Columbia, Newfoundland and Ontario, (though not in any order) have worked much harder to protect workers on their sites.
HRS Group Inc. has a great team that can help you with all your health and safety needs. Contact Deborah toll free at 1-877-907-7744 or locally at 705-749-1259.
Ensure your workplace is a safe place.
Remember – In Canada, “ALL Accidents are Preventable”
‘Work’ and ‘Play’ safe.
Daniel L. Beal
CHSEP – Advanced Level
CEO & Senior Trainer
HRS Group Inc.
Thank you for your sharing.
Thanks.