Cenovus Planning On Heavily Reducing GHG Emissions By 2030

Cenovus Energy is planning to reduce its emissions by 30 per cent over the next 10 years.

The oil company released its sustainability targets for 2030 on Thursday.

They’re focusing on four key areas; climate & greenhouse gas emissions, Indigenous engagement, land & wildlife, and water stewardship.

Along with reducing its emission levels, Cenovus is also planning on reclaiming over 1,500 decommissioned well sites.

“Our environmental practices, low-emissions oil sands operations and the relationships we’ve built with residents in areas where we operate – including Indigenous communities – demonstrate our commitment to sustainability leadership,” said Alex Pourbaix, Cenovus President & CEO, in a release.

Cenovus joins Suncor and CNRL who announced last year plans to cut their emissions.

Suncor also plans on reducing their levels by 30 per cent by 2030, while CNRL is planning to remove all emissions in an undetermined time.

Meanwhile, Cenovus says they will spend a minimum of $1.5 billion with Indigenous businesses over the next 10 years.

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