OMV’s Approach to Sustainability
OMV responsibly delivers affordable energy for a sustainable supply: the energy for a better life. Sustainable business behavior is crucial for OMV to create and protect value in the long term, to build trust-based partnerships, and to attract customers as well as the best employees, investors, and suppliers.
OMV’s Approach to Sustainability
In the era of energy transition, the goal of OMV’s business is to provide “oil & gas at its best.” The growing demand for energy and accelerating climate change pose immense challenges for the energy sector. The key lies in finding the balance between climate protection efforts, affordable energy, and reliable supply. This means producing and using oil and gas as sensibly and responsibly as possible to safeguard the energy supply. We pledge to conduct our business responsibly by protecting the environment, aiming to be an employer of choice, and creating long-term value for our customers, shareholders, and society.
In line with the sustainable approach to the business, OMV has developed the Sustainability Strategy 2025 as an integral part of OMV’s Corporate Strategy 2025. The Strategy includes 15 measurable targets set in the five focus areas: Health, Safety, Security, and Environment (HSSE); Carbon Efficiency; Innovation; Employees; Business Principles and Social Responsibility. For a lower-carbon future, OMV will invest up to EUR 500 mn by 2025 in innovative energy solutions such as ReOil® and Co-Processing and will implement carbon efficiency measures.
- Health, Safety, Security, and Environment (HSSE): Health, safety, security, and protection of the environment have top priority in all activities. Proactive risk management is essential for realizing OMV’s HSSE vision of “ZERO harm – NO losses.” OMV targets:
- Achieve zero work-related fatalities
- Stabilize Lost-Time Injury Rate 1 at below 0.30 (per 1 million hours worked)
- Keep leading position for Process Safety Event Rate 2
For more information, see Health, Safety, Security, and Environment.
- Carbon Efficiency: OMV focuses on improving the carbon efficiency of its operations and product portfolio. OMV is fully committed to acting on climate change mitigation and responsible resource management. OMV targets:
- Reduce the carbon intensity of OMV’s operations 3 by 19% by 2025 (vs. 2010)
- Reduce the carbon intensity of OMV’s product portfolio 4 by 4% by 2025 (vs. 2010)
- Achieve zero routine flaring and venting of associated gas by 2030
- Innovation: OMV’s innovation efforts focus on optimizing production, exploring high-end petrochemical solutions, developing innovative energy solutions, and embracing digital technologies. Innovation is facilitated by investment and partnerships in research and development of innovative technological solutions. OMV targets:
- Develop ReOil® into commercially viable, industrial-scale process (unit size of ~200,000 t per year)
- Raise the share of sustainable feedstock co-processed in the refineries to ~200,000 t per year by 2025
- Increase the recovery factor in the CEE region in selected fields by 5 to 15 percentage points by 2025 through innovative Enhanced Oil Recovery methods
- Employees: OMV is committed to building and retaining a talented expert team for international and integrated growth. The focus of its diversity strategy is on gender and internationality. OMV targets:
- Increase share of women at management level 5 to 25% by 2025
- Keep high share of executives with international experience 6 at 75%
For more information, see Employees.
- Business Principles and Social Responsibility: OMV strives to uphold equally high ethical standards at all locations. OMV is a signatory to the United Nations (UN) Global Compact, fully committed to the UN Guiding Principles on Business and Human Rights, and aims to contribute to the UN’s 2030 Agenda for Sustainable Development. OMV targets:
- Promote awareness of ethical values and principles: conduct in-person or online business ethics training courses for all employees
- Assess Community Grievance Mechanism of all sites against UN Effectiveness Criteria 7 by 2025
- Conduct human rights training courses for all employees exposed to human rights risks 8 by 2025
- Increase the number of supplier audits covering sustainability elements to >20 per year by 2025
1 Lost-Time Injury Rate is the frequency of injuries leading to lost working days, relative to one million working hours of employees and contractors.
2 See Abbreviations and Definitions for definition of a Process Safety Event (PSE).
3 CO2 equivalent emissions produced to generate a certain business output using the following business-specific metric (Upstream: t CO2 equivalent/toe produced, Refineries: t CO2 equivalent/t throughput, Power: t CO2 equivalent/MWh produced) consolidated to an OMV Group Carbon Intensity Operations Index, based on weighted average of business segments’ carbon intensity
4 OMV carbon intensity of product portfolio measures the CO2 equivalent emissions generated through usage of OMV’s products sold to third parties in t CO2 equivalent/toe sold.
5 Management level: executives and advanced career level
6 More than or equal to three years of living and working abroad
7 Legitimate, accessible, predictable, equitable, transparent, rights-compatible, a source of continuous learning, based on engagement and dialog
8 1,059 employees in corporate functions managing human rights risks as well as the corresponding functions in countries with elevated human rights risk