Cenovus Energy Inc : Cenovus releases corporate responsibility performance for 2011
06/27/2012| 06:05pm US/Eastern
Cenovus Energy has released its corporate responsibility report for 2011
which provides insight on how the company is living up to its commitment
to develop its energy assets responsibly. The report includes
information on Cenovus's efforts to protect the health and safety of
employees and the communities where it operates, improve environmental
performance, promote good governance and transparency, and advance
community engagement efforts.
"Everyone at Cenovus is committed to developing our business safely and
responsibly," said Jim Campbell, Cenovus Vice-President of Government
Affairs and Corporate Responsibility. "This report allows us to share
our successes with stakeholders and helps identify opportunities to
improve our performance."
Cenovus continues to focus on reducing greenhouse gas emissions
intensity at its Foster
Creek and Christina
Lake oil sands operations, which use specialized
methods to drill and pump the oil to surface. This technique
requires the use of steam to soften the oil. Since 2004, Cenovus has
lowered emissions intensity by almost 27%, mainly due to energy
efficiency initiatives that reduce the amount of steam required to
produce a barrel of oil.
"All energy development has challenges. It's up to us to look for
creative solutions and ways to improve. At Cenovus, the status quo is
unacceptable," said Campbell. "Technology is and will be a big part of
those solutions. We're currently working on 140 technology
development projects, three-quarters of which focus on improving our
In 2011, Cenovus celebrated 20 years without a lost-time incident at its operations
near Weyburn, Saskatchewan. The total frequency of recordable
injuries company-wide was reduced by approximately 15% when compared to
2010, while activity levels increased by 40%. This reduction was partly
due to a focus on improving
safety training for the increasing number of new and young workers
entering the industry.
Investments in Aboriginal-owned and joint venture businesses tripled
from $86 million in 2009 to $245 million in 2011 and now represent about
9% of total company spending. This increase is partly due to increased
efforts to engage Aboriginal entrepreneurs in procurement programs as
well as greater awareness of Cenovus among Aboriginal companies. Cenovus
$13 million in communities through donations and sponsorship
The report is structured around Cenovus's Corporate
Responsibility Policy, which consists of six commitment areas:
leadership, governance and business practices, people, environmental
performance, stakeholder and Aboriginal engagement, and community
involvement and investment.
"At Cenovus, corporate responsibility is more than a reporting
commitment. It's the guide for how we conduct our business," said
Campbell. "We've put a system in place to integrate all aspects of our
policy into our day-to-day operations."
Cenovus uses the Global
Reporting Initiative as a framework for reporting and aligns its
performance measures with standards set out by the Canadian
Association of Petroleum Producers Responsible
Canadian Energy™ program. The full report is available for download
Cenovus Energy Inc.
Cenovus Energy Inc. is a Canadian oil
company. It is committed to applying fresh, progressive thinking to
safely and responsibly unlock energy resources the world needs.
Operations include oil sands projects in northern Alberta, which use
specialized methods to drill and pump the oil to the surface, and
established natural gas and oil production in Alberta and Saskatchewan.
For more information, visit www.cenovus.com.
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