How We Report

Corporate Responsibility

How We Report

History and scope

Canadian Natural has been producing our Stewardship Report to Stakeholders since 2004 to report on our ongoing commitment to social responsibility and continuous improvement. Our sustainability reporting focuses on health and safety, asset integrity, environment, innovation, community engagement and economic contributions. These topics and other key aspects of our performance are covered in further detail as part of our comprehensive Corporate Responsibility section on our website.

The Report to Stakeholders 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, in context with a four-year performance trend and goals for future performance. The report also includes 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.

We continually assess the appropriate level of reporting to provide value to investors and stakeholders, and for continuous improvement. We are committed to reporting regularly to reflect the key environmental, economic, social and corporate governance issues considered most critical to the Company and our stakeholders.

Reporting frameworks 

The core of the report is performance information based on key internal indicators and a number of external assessment processes, including the Global Reporting Initiative (GRI) sustainability reporting guidelines. Our Stewardship Report to Stakeholders includes social, economic and environmental disclosures from the GRI Standards and the GRI Oil and Gas Sector Supplement. We align with the GRI Standards to provide consistent, high quality reporting focused on material issues, with a consolidated global framework.

To continue providing diligent reporting of our performance, and to align with stakeholder and shareholder expectations, our sustainability reporting has been enhanced to align with recommendations from the Financial Stability Board (FSB) Task Force on Climate-Related Financial Disclosures (TCFD). We also participate in the Carbon Disclosure Project (CDP), and provide information to external parties that compile corporate social responsibility data for clients and investors.

To improve our reporting, we also engage with stakeholders. Feedback we receive from communities, Indigenous groups, employees, investors and governments is incorporated into our reports.

To continuously improve our reporting, we incorporate feedback received through engaging with stakeholders, including communities, Indigenous groups, employees, investors and governments.

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Issues identification

Canadian Natural has an internal audit team of experts and leaders in the key reporting areas. The team reviews the Stewardship Report to Stakeholders for balance, accuracy and relevance to stakeholders. They regularly assess 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 and industry benchmarking also helps us identify relevant topics.