Impacts, Risks, and Opportunities (IROs)

OMV acknowledges that GHG emissions resulting from our operations and products sold contribute to high emissions and significant energy consumption. These challenges are inherent in our current business model. To address them, OMV is committed to reducing GHG emissions through the energy transition, supporting society’s shift from a linear to a circular economy. This involves offering diversified products with a reduced carbon footprint and gradually moving away from fossil fuels, with the goal of achieving a net-zero business by 2050. This transition not only mitigates negative environmental impacts but also offers potential opportunities for OMV. By participating in the clean energy transformation process and adopting energy transition and circular technologies, OMV can gain a competitive advantage. Additionally, OMV aims to capitalize on these opportunities and reduce costs by expanding renewable energy generation for its own electricity consumption. Effective management of energy consumption and increased use of renewable energy will reduce the environmental impact of our operations, increase financial savings through energy efficiency measures, prevent non-compliance with regulatory requirements on energy use, and lower GHG emissions. These opportunities align with our strategic goals and enhance both our operational efficiency and environmental stewardship. For further information on material impacts, risks, and opportunities related to E1 Climate Change, see ESRS 2 General Information.