OMV’s Sustainability Targets and Commitments

Health, Safety, Security, and Environment (HSSE)

•  Commitments:
  • Health, safety, security, and protection of the environment have the highest priority in all activities.
  • Proactive risk management is essential for realizing OMV’s HSSE vision of “ZERO harm – NO losses.”
• 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

For more information, see the chapter Health, Safety, Security, and Environment.

Carbon efficiency

•  Commitments:
  • 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 aims for net-zero operations by 2050 or sooner.
• Targets for operations (scope 1):
  • Reduce the OMV Group’s carbon intensity of operations by ≥30% by 2025 vs. 2010 ²
  • Lower the carbon intensity of OMV’s Upstream operations by ≥60% vs. 2010 ²
  • Lower the carbon intensity of OMV’s Refining operations by ≥20% vs. 2010 ²
  • ≥1 mn t CO₂ equivalent emissions reduction in operated assets ³
  • Achieve zero routine flaring and venting of associated gas as soon as possible, no later than 2030
• Targets for products (scope 3):
  • Reduce carbon intensity of the product portfolio by >6%, which equates to low- or zero-carbon products accounting for ≥60% of total products by 2025 ⁴

Innovation

•  Commitments:
  • OMV’s innovation efforts focus on optimizing production, exploring high-end petrochemical solutions, developing innovative energy solutions, and embracing digital technologies.
  • Innovation is supported by investment and partnerships in research and development.
• Targets for ReOil^®:
  • Develop ReOil^® into commercially viable industrial-scale process (unit size of around 200,000 t per year)
• Targets for Co-Processing:
  • Increase the share of sustainable feedstock co-processed in the refineries to around 200,000 t per year by 2025
• Targets for Enhanced Oil Recovery (EOR):
  • Increase the recovery factor in the CEE region in selected fields by 5–15 percentage points by 2025 through innovative Enhanced Oil Recovery (EOR) methods

For more information, see the chapters Upstream and Downstream.

Employees

•  Commitments:
  • OMV is committed to building and retaining a talented team of experts for integrated and international growth.
  • OMV is committed to its diversity strategy with a focus on gender equality and internationality.
• 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 the chapter Employees.

 Business principles and social responsibility

• Commitments:
  • OMV strives to uphold equally high ethical standards at all locations.
  • OMV is a signatory to the United Nations (UN) Global Compact, is 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.
• Targets:
  • Promote awareness of ethical values and principles: conduct in-person or online business ethics trainings for all employees
  • Assess Community Grievance Mechanisms at 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 ⁹

In 2020, OMV acquired a majority stake in leading polyolefins producer Borealis. Together with Borealis, OMV is committed to playing a leading role in driving the circular economy.

Like OMV, Borealis has set concrete sustainability targets. Borealis’ sustainability ambition is to create a world where there is no waste of resources, no emissions into the environment and no harm to society, while delivering prosperity for Borealis.

Borealis is committed to driving the transformation towards a circular plastics economy, to ensuring process and chemicals safety, and to reducing its carbon footprint by means of improving energy intensity, increasing the share of renewable energy and zero continuous flaring and driving innovation.

In 2021, we will update our Corporate Strategy and integrate Borealis’ targets, including sustainability ambitions, into the overall OMV strategy. The strategic targets referred to above do not yet include Borealis.

OMV intends to allocate significant resources to the implementation of the Sustainability Strategy 2025. Up to EUR 1 bn will be invested by OMV and Borealis in innovative energy and circular economy solutions such as ReOil^® and Co-Processing by 2025.