Imperial Oil CEO updates Canadian committee on emission reduction progress and $720M renewable diesel project

IMPERIAL OIL LTD

CEO Brad Corson presented to the Standing Committee on Environment and Sustainable Development on June 6, 2024.
Imperial targets net-zero scope 1 and 2 emissions by 2050; already achieved ~10% GHG intensity reduction vs 2016.
Grand Rapids project at Cold Lake started production; technology expected to cut GHG intensity up to 40%.
Building Canada's largest renewable diesel facility at Strathcona; $720M investment, 1B litres/year starting 2025.
Company also exploring lithium extraction for EV battery supply chain and bio-based co-processing at refineries.

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