Prime Minister Justin Trudeau says news that one of the world's largest investment funds will exclude four Canadian oilsands producers from consideration for investing is part of a continuing shift in global attitudes for which oil companies will have to adjust...

"We've seen investors around the world looking at the risks associated with climate change as an integral part of investment decisions they make," said Trudeau on Wednesday in response to a reporter's question...

Carbon emissions became a criterion for exclusion from the fund four years ago, and in 2017 the Council on Ethics recommended "a small handful" of firms be blacklisted for producing too much greenhouse gas emissions in either the oil, cement and steel sectors...

Cenovus's CEO said the company is focused on its environmental footprint.

"Pulling investments from the oilsands and claiming it's for climate change reasons is more about publicity than fact," Alex Pourbaix said in a statement.

"Cenovus has reduced the GHG emissions intensity at our oilsands operations by approximately 30 per cent over the past 15 years. And we've set ambitious targets to reduce our emissions intensity by another 30 per cent across our operations by 2030 and hold absolute emissions flat during that time."