Cenovus releases 2020 environmental, social & governance data report
June 29 2021 - 8:00AM
Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has published its 2020
environmental, social & governance (ESG) data report, the first
for the company following its combination with Husky Energy Inc. on
January 1, 2021. This report is one of several important
sustainability milestones for Cenovus this year and highlights the
ESG metrics for each legacy company enabling investors, the
financial community and rating agencies to assess our ongoing
performance.
Following the Husky transaction, Cenovus conducted a robust
materiality assessment to establish its ESG focus areas for the
combined company. Working with global advisors and engaging
internal and external stakeholders, the company reaffirmed that
safety and asset integrity, and corporate governance remain
foundational to its business. Cenovus also identified the five most
significant ESG focus areas for the company: climate &
greenhouse gas (GHG) emissions, water stewardship, biodiversity,
Indigenous reconciliation and inclusion & diversity. Our
reporting structure, underpinned by these focus areas, aligns with
the Sustainability Accounting Standards Board and IPIECA
frameworks.
“We remain committed to ESG leadership, including our ambition
of achieving net zero GHG emissions by 2050 and to helping Canada
achieve its climate goals through our participation in the recently
announced Oil Sands Pathways to Net Zero initiative,” said Rhona
DelFrari, Cenovus Chief Sustainability Officer & Senior
Vice-President of Stakeholder Engagement. “We have a responsibility
to our investors, communities, staff and other stakeholders to
continue with transparent reporting and we will take bold steps in
setting and working to achieve our climate and other ESG
targets.”
It is anticipated that in the fourth quarter of 2021, the
company will release its comprehensive 2020 ESG report. In addition
to aligning with the recommendations of the Task Force on
Climate-related Financial Disclosures, the report will include new
ESG targets for each focus area, as well as pro forma metrics for
the combined company.
AdvisoryForward-looking
Information This news release contains certain
forward-looking statements and forward-looking information
(collectively referred to as “forward-looking information”) within
the meaning of applicable securities legislation, including the
United States Private Securities Litigation Reform Act of 1995,
about our current expectations, estimates and projections about the
future, based on certain assumptions made by us in light of our
experience and perception of historical trends. Although Cenovus
believes that the expectations represented by such forward-looking
information are reasonable, there can be no assurance that such
expectations will prove to be correct. Readers are cautioned not to
place undue reliance on forward-looking information as actual
results may differ materially from those expressed or implied.
Forward-looking information in this document is identified by
words such as “achieve”, “ambition”, “anticipate”, “committed”,
“commitment”, “continue”, “goals”, “remain”, “target”, “will” or
similar words or expressions and includes suggestions of future
outcomes, including, but not limited to, statements about:
delivering transparent disclosure and reporting; our ambition of
achieving net zero GHG emissions by 2050; helping Canada achieve
its climate goals through our participation in the Oil Sands
Pathways to Net Zero initiative; releasing a comprehensive 2020 ESG
report in later 2021, which will include new ESG targets and pro
forma metrics for the combined company; Cenovus's future climate
and ESG targets and commitments and further ambitions, including
the five focus areas, and plans for achieving them. Please refer to
the advisory contained in our June 9, 2021 joint news release
announcing our participation in the Oil Sands Pathways to Net Zero
initiative for the assumptions made in respect of the initiative,
as well as a description of certain risks and uncertainties that
could impact it (available on SEDAR at sedar.com, on EDGAR at
sec.gov and Cenovus’s website at cenovus.com).
Developing forward-looking information involves reliance on a
number of assumptions and consideration of certain risks and
uncertainties, some of which are specific to Cenovus and others
that apply to the industry generally.
Additional information about risks, assumptions, uncertainties
and other factors that could influence Cenovus’s actual results is
provided in Cenovus’s Management's Discussion and Analysis
(MD&A) for the period ended December 31, 2020 and its MD&A
for the period ended March 31, 2021, as well as in other documents
Cenovus files from time to time with securities regulatory
authorities in Canada (available on SEDAR at sedar.com, on EDGAR at
sec.gov and Cenovus’s website at cenovus.com). Cenovus undertakes
no obligation to update or revise any forward-looking information
except as required by law.
Cenovus Energy Inc.
Cenovus Energy Inc. is an integrated energy company with oil and
natural gas production operations in Canada and the Asia Pacific
region, and upgrading, refining and marketing operations in Canada
and the United States. The company is focused on managing its
assets in a safe, innovative and cost-efficient manner, integrating
environmental, social and governance considerations into its
business plans. Cenovus common shares and warrants are listed on
the Toronto and New York stock exchanges, and the company’s
preferred shares are listed on the Toronto Stock Exchange. For more
information, visit cenovus.com.
Find Cenovus on Facebook, Twitter, LinkedIn, YouTube and
Instagram.
Cenovus contacts:
Investors |
Media |
Investor Relations general line |
Media Relations general line |
403-766-7711 |
403-766-7751 |
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/b54cc248-dd80-469d-8839-b3d3bb8c0679
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