Aboriginal Development
Syncrude is a Canadian leader in working with Aboriginal people toward the achievement of mutual aims. Today, with nearly 30 years of experience in Aboriginal development, we have a diversified and widely respected Aboriginal Development program that in 2004 invested more than $600,000 on activities encompassing corporate leadership, employment, business development, education and training, community development and the environment.
Strategic Review of Syncrude’s Aboriginal Program 
To help keep Syncrude’s Aboriginal Development Program at the forefront in a continuously changing environment, a strategic review by an external consultant has been commissioned. The review was initiated in response to stakeholder feedback and will assess the program’s effectiveness in meeting the needs of the people it is designed to serve. Syncrude’s Executive and Aboriginal Development Steering Committees will review the results and recommendations for improvement by September 2005.
New Aboriginal Review Published
In December, Syncrude published its fourth progress report on Aboriginal Development in 10 years. The report is a comprehensive overview of Syncrude’s work in the six key commitment areas listed above, and was well received by stakeholders from the region and across Canada. Syncrude has now committed to reporting on an annual basis.
View the 2004 report at www.syncrude.com/community/aboriginal.html
Honours From Aboriginal Business Council
The Canadian Council for Aboriginal Business has once again recognized Syncrude for excellence in Aboriginal business development. In 2004, Syncrude was one of only four Canadian companies to earn gold level accreditation in the Council’s Progressive Aboriginal Relations (PAR) program.
Aboriginal Best Practice Recognition
The community of Fort McKay identified Syncrude as having best practices for Aboriginal Business Development and Aboriginal Employment. Syncrude and Fort McKay are now jointly preparing a document that explains how these best practices were achieved, which Fort McKay will share with new regional industrial entrants as a means of encouraging similar success.
Business Development
In 2004, Syncrude and its Aboriginal suppliers achieved an all-time record for annual business volume. During the year, $107 million in contracts were struck with firms owned by First Nations and Métis entrepreneurs, an increase of almost 20 per cent over 2003.1
New Aboriginal Financial Management Program
A new program was launched in 2004 to support Syncrude’s goal of developing more career opportunities for Aboriginal People in such professional areas as accounting, commerce and other related fields. The Aboriginal Financial Management Internship Program is providing participating Aboriginal students studying Business Administration at Keyano college with work placements and access to business mentors who share their skills and act as role models. Future placements may also come from other post-secondary institutions. Syncrude chairs the program steering committee and provides work placements for students.
Actions taken by Syncrude in response to stakeholder concerns raised during our stakeholder engagement processes are noted throughout this report; these actions are indicated by the symbol.
