Cenovus Energy Inc., commonly referred to as Cenovus, is a prominent Canadian energy company headquartered in Calgary, Alberta. Specialising in the gas and diesel oil sector, Cenovus operates across key regions in Canada, focusing on the exploration, production, and refining of hydrocarbons. Since its founding in 2009, the company has established a strong market presence through strategic acquisitions and innovative extraction techniques.
Cenovus is recognised for its integrated approach to oil sands development and conventional oil production, delivering reliable energy products to meet global demand. Its core offerings include crude oil, natural gas, and refined fuels, distinguished by a commitment to operational efficiency and environmental responsibility. As a leading player in Canada's energy industry, Cenovus continues to advance its position through sustainable practices and technological innovation.
+8 vs industry average
Cenovus Energy’s score of 28 is higher than 56% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Gas/Diesel Oil has above-average carbon intensity
Industry performance
The Gas/Diesel Oil industry has reduced its overall emissions by 41% since 2019
Emissions trajectory 2020 – 2025
Reported emissions
Scope 3 accounts for ••• of total emissions.
Cenovus Energy's reported carbon emissions
Cenovus Energy, headquartered in CA and operating in the Gas/Diesel Oil sector, reported its emissions for the period of 2018-2022.
For 2022, Cenovus Energy's total global emissions were approximately 229,300,000,000 kg CO2e. This comprises:
- Scope 1 emissions: Approximately 16,300,000,000 kg CO2e
- Scope 2 emissions: Approximately 1,800,000,000 kg CO2e
- Scope 3 emissions: Approximately 211,200,000,000 kg CO2e, with the largest contributor being the use of sold products.
In 2021, the company's total global emissions were approximately 224,400,000,000 kg CO2e. This breaks down as:
- Scope 1 emissions: Approximately 17,600,000,000 kg CO2e
- Scope 2 emissions: Approximately 1,800,000,000 kg CO2e
- Scope 3 emissions: Approximately 205,000,000,000 kg CO2e, with the use of sold products being the most significant category.
For 2020, total global emissions were approximately 214,900,000,000 kg CO2e. This included:
- Scope 1 emissions: Approximately 17,500,000,000 kg CO2e
- Scope 2 emissions: Approximately 1,900,000,000 kg CO2e
- Scope 3 emissions: Approximately 195,500,000,000 kg CO2e, with the use of sold products being the primary driver.
In 2019, total global emissions were approximately 216,000,000,000 kg CO2e. The breakdown includes:
- Scope 1 emissions: Approximately 18,100,000,000 kg CO2e
- Scope 2 emissions: Approximately 2,100,000,000 kg CO2e
- Scope 3 emissions: Approximately 195,800,000,000 kg CO2e, with the use of sold products accounting for the largest portion.
Cenovus Energy has established climate commitments including a long-term ambition to achieve net zero emissions by 2050. The company has also set a near-term target to reduce its absolute Scope 1 and 2 greenhouse gas emissions by 35% by the end of 2035, using 2019 as the baseline year.
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Cenovus Energy’s Climate Goals (2030 & 2050)
2 goals2035
35% reduction in all scopes
We have set a target to reduce our absolute scope 1 and 2 GHG emissions by 35 percent by year-end 2035 from 2019 levels
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
See all 2 climate goals
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Scope 3 top emissions categories
7 of 15 categories disclosedSee all scope 3 categories
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Emissions comparison with industry peers
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Cenovus Energy
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