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Cenovus Energy

Cenovus Energy is a publicly listed fully integrated oil and gas company headquartered in Canada. In 2020, it had USD 10.37 billion in revenue and a reported 2,361 employees*. Cenovus’ recent acquisition of Husky Energy will significantly increase the company's overall emissions impact, especially given its lack of a credible transition plan and measures to reduce scope 3 emissions.

Ranking position
#61/100
Total score
3.6/100
Performance score
1.5/20
Narrative Score
ABCDE
Trend Score
  • Trend line is up
  • Trend line is equal
  • Trend line is down
Performance module name Performance module score Rank (0-100)

Targets

0.0 /100 #38

Material Investment

8.4 /100 #39

Intangible Investment

0.0 /100 #20

Sold products

5.6 /100 #27

Management

35.6 /100 #43

Supplier Engagement

5.0 /100 #46

Client Engagement

0.0 /100 #53

Policy Engagement

20.0 /100 #47

Business Model

0.0 /100 #52

Leading practices

No leading practices were identified for this company.

Risks and opportunities

Trend

Cenovus receives a trend score of -. If the company were reassessed in the near future, its score would likely decrease. Cenovus would need to decrease its scope 1 and 2 emissions intensity between 2019 and 2024 at 4 times its reduction rate between 2014 and 2019 to align with its 1.5°C pathway. The company’s recent acquisition of Husky Energy will lead to a significant increase in its overall scope 1, 2 and 3 emissions. Despite this, Cenovus has set out no plans to reduce scope 3 emissions and has no clear plans to develop low-carbon business activities.

Progress towards the Paris Agreement

More about the company

Headquarters
Calgary, Canada
Group revenue
CAD 13.23 billion (USD 10.37 billion)
Ownership structure
Publicly listed
Number of employees
2,361
Scope of activity
Fully integrated
Website
https://www.cenovus.com