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Our results

We want to ensure we’re employing best practices when it comes to our community investments. We have a program in place to measure the impact of our investments through stakeholder feedback, third party evaluation, benchmarking studies and reports from our community partners.

Yearly audit

Each year, we participate in a detailed audit of our entire portfolio through the London Benchmarking Group (LBG) Canada. This audit helps us understand the total value that our cash, in-kind, employee volunteering and giving, and program management costs bring to the local community. We evaluate our success through stakeholder feedback, third-party evaluation, benchmarking studies and reports from our community partners.

We’ve been a member of LBG Canada since 2011. Each year, our results are published in our annual environmental, social & governance report.

Total value of investments to the community for 2019

trong families and safe, sustainable communities - partnership
Cash investments In-kind donations, employee volunteering during work hours and management costs to run our community investment program External resources leveraged which include employee giving facilitated by Cenovus

Targets and results

In 2016, we began to set clear external targets to help us measure our progress and demonstrate the impact we’re making in the communities where we invest. Each year we measure our impact to ensure we’re making progress against our goals and we reassess our programs to ensure they are achieving our desired outcomes.

Targets By 2016 2017 2018 2019
Invest 1% of our annual pre-tax profit to support charitable and community partners1 Annually 1.14%2 0.53% 0.21% 0.63%
Positively impact 250,000 youth through literacy programs, healthy living initiatives and skill building opportunities 2020 100,237 221,191

(Cumulative total 2016 - 2017)

341,541

(Cumulative total 2016 - 2018)

409,541

(Cumulative total 2016 – 2019)

1 Percentage of pre-tax profits has been calculated as our total value of investments to the community divided by the absolute value of our Earnings(Loss) from Continuing Operations Before Income Tax found on our annual consolidated statement of earnings
2 The Earnings(Loss) from Continuing Operations Before Income Tax in 2016 was restated in 2017 for discontinued operations