Commodity Price Volatility: The profitability of Suncor Energy is highly dependent on the fluctuating market prices of crude oil, natural gas, and refined products, which are influenced by global supply and demand, geopolitical events, and economic conditions.

Environmental & Climate Policy Risk: Increased regulatory scrutiny, carbon pricing, evolving climate change policies, and public pressure to reduce greenhouse gas emissions could lead to higher operating costs, capital expenditures for emissions reductions, and potential impairment of assets.

Operational Safety & Reliability: Suncor's complex operations, including oil sands mining, upgrading, refining, and pipeline transportation, carry inherent risks of accidents, equipment failures, and environmental incidents that could result in injuries, fatalities, property damage, operational disruptions, and significant financial penalties.