How We Report

Corporate Responsibility

How We Report

History and Scope

Canadian Natural has been producing a Stewardship Report to Stakeholders since 2004 covering key aspects of our performance that are relevant to stakeholders. We focus this report on the health and safety, asset integrity, environmental, innovation, community and economic factors that reflect our ongoing commitment to social responsibility and continuous improvement. The Report provides a performance overview across the full range of Canadian Natural’s operations in Western Canada, the UK portion of the North Sea and Offshore Africa for each calendar year, often in context with multi-year trends and goals for future performance.

The Report also provides a number of examples of how our performance commitment is put into action to create a connection between the performance data and Canadian Natural’s programs. It features information about Canadian Natural’s economic contributions in our areas of operations and beyond. Our intent is to ensure the content in our annual sustainability reporting reflects the key environmental, economic, social and governance issues considered most critical to the company and our stakeholders.

Reporting Frameworks 

The core of the Report is performance information based on internal Key Performance Indicators and a number of external assessment processes, including the Global Reporting Initiative (GRI) sustainability reporting guidelines. Canadian Natural continually assesses the appropriate level of reporting to provide value to investors and stakeholders, and for continuous improvement.

For our 2016 reporting we initiated the transition from the GRI G4 Sustainability Reporting Guidelines into the GRI Sustainability Reporting Standards. The new GRI Standards were developed with the goal of consistent, higher quality reporting, focused on material issues, and designed as a consolidated framework for reporting performance against different codes and norms for sustainability. They encompass harmonization with other global frameworks, including the OECD Guidelines for Multinational Enterprises, the UN Global Compact Principles, and the UN Guiding Principles on Business and Human Rights. Read more about the GRI framework.

The 2016 Stewardship Report to Stakeholders contains disclosures from the GRI Standards and the Oil and Gas Sector Supplement. Issues of the highest importance during 2016 are highlighted in the report. These topics and others are then covered in further detail as part of our comprehensive Corporate Responsibility section on our website. Performance data and charts in this report provide information from 2012 through December 31, 2016, as well as some programs and projects that are ongoing or scheduled for 2017. Our 2016 GRI Content Index contains standards and material aspects covered throughout our reporting, as well as where to locate that information within the Report, our corporate website and other public documents.

To improve our reporting and better align to public expectations, we also engage with relevant stakeholders. Feedback we receive from communities, Indigenous groups, employees, investors and governments is incorporated into our reports. The performance data for direct greenhouse gas (GHG) emissions, nitrogen dioxide (NOx) and sulphur dioxide (SOx) is subject to external third party verification.

In addition to the information provided in the annual Stewardship Report to Stakeholders and the Corporate Responsibility section of our website, we also participate in the Carbon Disclosure Project (CDP), align with the Canadian Association of Petroleum Producers’ Responsible Canadian Energy Program and provide information to external parties that compile corporate social responsibility data for clients and investors. You can access our 2017 CDP report here.

Issues identification

Canadian Natural has an internal audit team of experts and leaders in the key areas of reporting. The team reviews the Stewardship Report to Stakeholders for balance, accuracy and relevance to stakeholders. They regularly assess the appropriateness of the issues, performance indicators and disclosures covered, and adjust as needed to reflect the evolution of our business activities, as well as the environmental, economic and social aspects of importance to the Company and our stakeholders. Information from ongoing stakeholder dialogues also helps us identify relevant issues.

Our Corporate Management Committee, a group comprised of Canadian Natural’s senior executives who shares the responsibilities normally associated with a chief executive officer position, approves the Stewardship Report to Stakeholders as delegated by the Board of Directors. The Management Committee includes two members who are also directors of the Company, the Executive Chair and the President.

Canadian Natural’s Board of Directors brings a mix of experience, knowledge and understanding gained through senior level positions held in the public and private sectors. Our directors bring expertise from a range of sectors, such as oil and natural gas, energy storage solutions, technology, legal, finance, health, and retail where leadership and governance over corporate social responsibility matters have been a longstanding priority. Specifically, seven out of the eleven directors have relevant experience in the areas of health, safety and environment. For more information on the Board’s expertise and experience, read our 2017 Management Information Circular, Schedule A.

With regard to climate change and greenhouse gas emissions management, current and potential policies and regulations are considered when making decisions to advance the Company’s business strategy. The Vice-President of Regulatory, Stakeholder and Environmental Affairs is responsible for climate change strategy and issues, and the Vice-President of Technology & Innovation drives technology advancement to increase efficiencies and reduce emissions. The Vice-Presidents report monthly to the Management Committee. Aspects of climate change risk that most influence the Company’s business strategy are: future compliance costs/regulatory changes, access to markets, and reputational risk. Canadian Natural provides ongoing reporting on how we are addressing climate and other environmental related financial risks. For more information, read our 2017 Annual Information Form and 2017 CDP report.

Read more about our Governance and Stewardship.