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
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