In this update, we present key financial data for the first quarter of 2009 for Canada’s public energy companies and trusts, as well as a more detailed look at issues affecting those companies’ ability to sustain their operations in the broadest sense. From harder-to-access natural resources to increasing costs for their development to a growing legion of influencing stakeholders, Canada’s oil and gas companies face several significant challenges.
We also look at the energy industry’s views on corporate social responsibility (CSR). While CSR does not have a universal definition, many describe it as the integration of economic, social and environmental policies within business operations. The interests of all stakeholders — including investors, customers, employees and the community — are reflected in a company's values and actions.