Cenovus Joins Oil-Sands Producers Targeting Net Zero Emissions

Cenovus Energy Inc. joined some of its oil-sands peers in setting a goal of reaching net-zero emissions from its operations, part of a push to improve the industry’s reputation and win over environmentally minded investors.

Cenovus is aiming to achieve the net-zero feat by 2050, and in a statement released Thursday it also set targets of reducing its emissions per barrel of oil produced by 30% by 2030 and keeping its absolute emissions flat in that timeframe. Both of those targets include direct emissions from its own operations, as well as the indirect emissions from the generation of energy that it uses at its facilities.