Cenovus Energy
Cenovus Energy Inc., a prominent player in the Canadian oil and gas sector, is headquartered in Calgary, Alberta. Founded in 2009, the company has rapidly established itself as a leader in the exploration, production, and refining of oil and natural gas, with significant operations in Alberta and Saskatchewan. Cenovus is particularly known for its innovative approaches to oil sands development and its commitment to sustainable practices. The company’s core offerings include crude oil, natural gas, and refined products, distinguished by their focus on efficiency and environmental stewardship. Cenovus has achieved notable milestones, including advancements in carbon capture technology, positioning itself as a forward-thinking entity in the energy landscape. With a strong market presence and a dedication to responsible resource management, Cenovus Energy continues to shape the future of the energy industry in Canada and beyond.
DitchCarbon Score
How does Cenovus Energy's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Gas/Diesel Oil industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Cenovus Energy's score of 9 is lower than 54% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Cenovus Energy's reported carbon emissions
Cenovus Energy, headquartered in Canada, reported significant carbon emissions in recent years. In 2022, the company emitted approximately 16,300,000,000 kg CO2e from Scope 1 emissions, which include direct emissions from owned or controlled sources. Additionally, Scope 2 emissions, related to the generation of purchased electricity, amounted to about 1,800,000,000 kg CO2e. The company also reported Scope 3 emissions, which encompass indirect emissions from the value chain, totalling around 143,700,000,000 kg CO2e. Cenovus has made strides in reducing its greenhouse gas emissions intensity, achieving a reduction of approximately 47,000 kg CO2e per million barrels of oil equivalent (MBOE) in 2021 compared to previous years. However, there are currently no specific reduction targets or initiatives disclosed under the Science Based Targets initiative (SBTi) or other formal climate pledges. Overall, Cenovus Energy's emissions profile reflects the challenges faced by the oil and gas sector in addressing climate change, highlighting the need for ongoing commitment to sustainability and emissions reduction strategies.
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| 2012 | 2013 | 2014 | 2015 | 2016 | 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 4,657,427,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 |
| Scope 2 | 1,079,646,000 | 000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 3 | - | - | - | - | - | 000,000,000,000 | 000,000,000,000 | 000,000,000,000 | 000,000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Cenovus Energy is not committed to any reduction initiatives we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
