Cenovus Energy Inc. CVE joined some of the industry peers in setting a target of net-zero emissions to achieve carbon neutrality, while avoid deviating from its traditional oil and gas business.Oil-sand producers are facing immense pressure from investors and activists to lower the environmental impacts of business operations as the extraction of crude oil from oil sands produces a significant amount of greenhouse gases. Hence, Cenovus, which produces crude from Canada’s oil sand, sets new emission-reduction targets and has invested in clean energy to convince eco-minded investors.Notably, Canada-based oil producer Canadian Natural Resources CNQ also sets new emission-reduction targets and slashed its carbon intensity by 18% per barrel by 2016-2020. However, it does not intend to majorly invest in renewable energy as the company still expects to have oil demand over the long term.Considering the reputation of the oil-sand industry, Cenovus and Canadian Natural have been trying to regain public confidence as they extract some of the most carbon-intensive crude in the world, which emits a large amount of greenhouse gases. Notably, investors are progressively focusing on the environmental, social and governance performance of those firms, thereby, pushing oil-sand companies to shift to renewable energy.Another Canadian oil producer Suncor Energy Inc. SU is making progress toward its goal of reducing the emission intensity of production by 30% by 2030 compared with the 2014 levels. Canada’s prime minister Justin Trudeau intends to increase carbon price significantly over time in order to make the country carbon-neutral by 2050.Company Profile & Price PerformanceHeadquartered in Calgary, AB, Cenovus is a leading integrated energy company.Shares of this utility have outperformed the industry in the past six months. Its stock has gained 90.4% compared with the industry’s 50.5% growth. Zacks Rank & Stock to ConsiderThe company currently carries a Zack Rank #3 (Hold).One better-ranked player in the energy space is Devon Energy Corporation DVN, currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Devon’searnings for 2021 are expected to increase 28.8% year over year.Time to Invest in Legal MarijuanaIf you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%.You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Suncor Energy Inc. (SU): Free Stock Analysis Report Devon Energy Corporation (DVN): Get Free Report Cenovus Energy Inc (CVE): Free Stock Analysis Report Canadian Natural Resources Limited (CNQ): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research