CALGARY, AB--(Marketwired - December 08, 2016) - Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has been placed in the Leadership level of the annual
CDP Climate Change Report. This global ranking recognizes actions the company has taken to manage climate change impacts within
its operations and beyond. The score of A- positions Cenovus in the top quartile of all global companies assessed by CDP and it
is one of only two Canadian energy companies at the Leadership level. These results were announced today as part of CDP's Canada
Report.
"This CDP ranking is an acknowledgement of our significant efforts to reduce greenhouse gas emissions at our operations and to
support policy that encourages actions to address climate change more broadly," said Jon Mitchell, Cenovus Vice-President
Environment & Sustainability. "We will continue to transparently communicate the innovative ways we plan our business to be both
cost and carbon competitive over the long term."
Since Cenovus became a company in 2009, it has consistently been recognized by CDP for leadership in its disclosure of
greenhouse gas emissions. This year, CDP updated the scope and methodology of its report to combine its carbon disclosure
assessment with measurement of a company's climate change mitigation performance and progress towards achieving the goals of the
Paris Climate Agreement. Cenovus's top-tier ranking for 2016 is a result of the company's meaningful greenhouse gas targets and
the actions it has taken to reduce emissions. The ranking also recognizes Cenovus's efforts to track its progress, identify and
manage risks and opportunities related to climate change, and integrate climate change considerations into all business
decisions.
Additional information about Cenovus's environmental performance can be found on its website and in its annual corporate
responsibility report, which is available at cenovus.com/responsibility.
CDP, formerly Carbon Disclosure Project, is an international not-for-profit organization that provides climate research,
measurement and reporting services. It works with 827 international investors with assets of US$100 trillion and 89 purchasing
organizations with a combined annual spend of over US$2.7 trillion to motivate companies to disclose their impacts on the
environment and natural resources and take actions to reduce them. For more informion about CDP and the Climate Change Report, go
to cdp.net.
Cenovus Energy Inc.
Cenovus Energy Inc. is a Canadian integrated 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. The company also has 50% ownership in two U.S. refineries. Cenovus shares trade under the symbol CVE, and are
listed on the Toronto and New York stock exchanges. For more information, visit cenovus.com.
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