2013 Cenovus Corporate Responsibility Report

Leadership

We believe that strong leadership at all levels of the organization strengthens every aspect of our business and ensures we stay focused on what matters most.

Our leaders are accountable for upholding our company’s purpose (why we exist), our promise (what we do) and our values (how we behave). Our purpose, promise and values are integral to how we do our work and have been embedded into a number of employee programs and processes including our employee orientation sessions and every employee’s annual performance agreement.

Strengthening our leadership

Working with the Center for Creative Leadership, a world-class research and development organization, we launched a formal development program in 2013 for all leaders at Cenovus. As part of that program, leaders receive a 360-degree assessment from their direct reports, peers, supervisors, other leaders, and peers outside of Cenovus. To date, 79 percent of our leaders have participated and received feedback on up to 130 leadership behaviours. The feedback is used to identify gaps in skills and competencies and to build tailored plans for each leader.

We also introduced a two-day summit for our senior leaders last year as a way to build their skills, broaden their perspectives, reinforce the priorities that matter most to the company, and support future succession planning. More than 100 leaders participated, sharing ideas and discussing a variety of business topics.

Our purpose, promise and value statements are prominently displayed in all our office buildings to keep them top of mind for staff and to reinforce their importance.

 

Being recognized externally

Every year we voluntarily disclose our performance to socially responsible investment reporting programs. Recognition and feedback from these programs help us identify best practices and areas where we need to improve. This recognition and feedback also provides our leaders with valuable information about the areas where we’re doing well and serves as an incentive for us to keep improving.

In 2013, we were pleased to receive the following external recognition:

Included in the RobecoSAM 2014 Sustainability Yearbook with Bronze Class distinction

Named to the Corporate Knights Global 100 List, and the Top 10 Most Sustainable Energy Companies in the World

Named to the Top 50 Socially Responsible Corporations in Canada by Maclean’s Magazine/Sustainalytics and Best 50 Corporate Citizens in Canada by Corporate Knights

Received a Canadian Association of Petroleum Producers' Responsible Canadian Energy Environmental Performance Award

Named to the Dow Jones Sustainability World Index and North America Index

Received recognition for best sustainability practice by Investor Relations Magazine Canada Awards

Named as one of the top 10 companies in Canada in the CDP Canada 200 Climate Disclosure Leadership Index

 

Measurement abbreviations used throughout the report

 

bbls barrels
BOE/d barrel of oil equivalent per day
CO2 carbon dioxide
CO2E carbon dioxide equivalent
GJ gigajoules
GHG greenhouse gas
m³OE cubic metres of oil equivalent
mg/L milligrams per litre
MMcf/d million cubic feet per day
SOR steam to oil ratio