Climate and greenhouse gas emissionsGovernments around the world are supporting the transition to a lower-carbon future by introducing increasingly stringent climate-related policies and creating incentives for emissions-reduction solutions. This commitment is consistent with the ongoing evolution of principles of sustainable resource development. This exceeds a target set by Canada’s Oil Sands Innovation Alliance (COSIA) for in-situ producers of 0.18 barrel by 2022. This 2030 target is an extension of the 2016 announcement of a $32 million, 10-year caribou habitat restoration program, the largest project of its kind in the world. Whaler is one of two erection contractors and one of a number of mechanical contractors on site for Cenovus.
The company is now conducting further analysis of the various opportunities available and expects to provide more information later in the year as part of the disclosure for its normal course business planning. "This is where we're at. Depending on the success of the initiative, including meeting Cenovus’s performance expectations, the company may consider extending the program to 10 years with a total investment amount of $100 million. “Trotter & Morton fosters a safe environment. Canada women's security envoy sees rising authoritarian control during COVID-19, Asian shares slip after Wall St's worst day in a month, Dodgers 1 win from title after 32 years and more than $3.6B, William Blinn, 'Starsky & Hutch' Creator and 'Purple Rain' Writer, Dies at 83, Fragrance in Skin Care: Derms Weigh In on the Social Media Backlash Toward Scented Products, I Plan My Meals Around This Hakka Shallot Sauce, Tiny House-Towing Semi Includes Space For A Second Car, 2,531 cases reported, but new data shows record surge, Barrett confirmed by Senate for Supreme Court, takes oath, Montreal gyms anxious to see members again in person, Netflix Sets Five New Anime Titles, Unveils First Looks At ‘Resident Evil: Infinite Darkness’, ‘Yasuke’, More, Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article, Turn Your Old Computer To Like New Again - Blazing Fast, Brilliant Way To Stay Fit & Build Muscle Without A Gym, 23 Cool Products That Could Sell Out In 2020, Cold Lake First Nations members have gone to the media. Land and wildlife Cenovus is continuing to build on its leading land restoration and wildlife protection activities with the addition of two new commitments. The company has planned a news conference at the Odd Fellows Hall in Calgary. Cenovus also continues to provide scholarships to Indigenous youth who are pursuing a full-time degree, diploma or certified trade program. “This is a complex challenge and requires exploring multiple options and opportunities. These certifications combined with dedicated and experienced employees enables Whaler to construct, repair, and install pressure piping and mechanical systems; repair and alter boilers and pressure vessels; and fabricate and erect miscellaneous structural steel at shop and field locations. Whaler is also erecting structural steel for modules, buildings, minor and major structures as well as miscellaneous electrical and piping supports. In addition to its 2030 climate & GHG emissions target, Cenovus’s long-term ambition is to reach net zero emissions by 2050. We’re at a capacity where we are trying to keep up with families’ needs. Honesty vs Transparency: How Truthful are You? Shirley Paradis said. That’s why Cenovus is focused on demonstrating equally strong financial, operational and ESG performance. Like us on Facebook to see similar stories, Mandryk: Big differences between Meili and Moe evident in the vote, Explainer: What to watch at the fifth plenum of China's Communist Party, Los Angeles County: 'Highly likely' watch parties, celebrations for Lakers' NBA Finals win contributed to COVID-19 spike, Malin Akerman Talks Racy Sex Scene With Husband In New Movie ‘Friendsgiving’. Cenovus has met with leaders from Beaver Lake Cree Nation, Chard Métis (Local 218), Chipewyan Prairie Dene First Nation, Cold Lake First Nations, Conklin Métis (Local 193) and Heart Lake First Nation to begin planning the implementation of the housing program starting this year.
The risk factors and uncertainties that could cause our actual results to differ materially, include: (i) impediments to Cenovus meeting its 2030 climate and GHG emissions targets and further ambitions, including: the effects of the implementation of cogeneration and potential increases in our steam-to-oil ratio on our overall emissions; Cenovus's ability to develop, access or implement some or all of the technology necessary to efficiently and effectively operate assets and achieve expected future results, including in respect of climate and GHG emissions targets and ambitions, the commercial viability and scalability of emission reduction strategies and related technology and products; the development and execution of implementing strategies to meet climate and GHG emissions targets and ambitions, including uncertainty over solvent supply and transportation, reservoir performance and capital spending estimates; uncertainty regarding the status of offsets, including due to cogeneration and renewable energy generation, recognition under future government policies and by ESG rating organizations and the measurability of offsets to count as emissions reductions; uncertainty in respect of CCUS regarding the eligibility of the credit generating pathways and the volatility of the price-signal in the credit market and the durability of the related policy through government changes; and (ii) impediments generally to our business and in respect of Cenovus meeting its targets, commitments, ambitions, strategy and related milestones and schedules as they relate to our four ESG focus areas and the other forward looking information in this news release, including: increasing stakeholder consideration of ESG factors and risks, including among credit rating agencies, lenders and investors, which may impact Cenovus's ability to access capital required to finance growth and sustaining capital expenditures; the inability to receive necessary regulatory approvals in a timely manner; reputational risk, including among stakeholders and government; maintenance of key relationships with government and other regulatory bodies; risks associated with technology and its application to Cenovus's business; volatility of and other assumptions regarding commodity prices; market competition, including from alternative energy sources; potential failure of products to achieve or maintain market acceptance; risks associated with fossil fuel industry reputation and litigation related thereto; changes in general economic, market and business conditions; the effectiveness of Cenovus's risk management program; Cenovus's ability to develop, access or implement some or all of the technology necessary to efficiently and effectively achieve expected future results, including on a commercial scale; the occurrence of unexpected events such as fires, severe weather conditions, explosions, blow-outs, equipment failures, transportation incidents and other accidents or similar events; unexpected cost increases or technical difficulties in constructing or modifying manufacturing or refining facilities; availability of, and our ability to attract and retain, critical talent; our possible failure to obtain and retain qualified staff and equipment in a timely and cost-efficient manner; risks associated with climate change and our assumptions relating thereto; changes in the regulatory framework in any of the locations in which we operate, including changes to the regulatory approval process and land-use designations, royalty, tax, environmental, greenhouse gas, carbon, climate change and other laws or regulations, or changes to the interpretation of such laws and regulations, as adopted or proposed, the impact thereof and the costs associated with compliance; the political and economic conditions in the countries in which we operate or supply; and the occurrence of unexpected events such as war, terrorist threats and the instability resulting therefrom. Companies that fail to adapt will face growing carbon-related risks, while those that act now will position themselves for long-term business resilience. 9.6K likes. New Cenovus Housing Initiative aims to provide about 200 new homes as well as jobs and training opportunities for Indigenous communities in Northern Alberta. Would You Be Interested In A 3-Door Hummer EV Like This? I look forward to working with all the surrounding communities, with industry, and I’m excited to build homes back home for my people.”.