Through sustainable products and business practices implemented within our own operations and value chain, we can have a positive impact on nature and society. However, the growing demand for alternative feedstock can lead to environmental and social impacts, such as land use change, nature and forest degradation, and potential human rights violations. Additionally, the procurement and use of primary fossil-based resources continue to generate negative environmental impacts. To address these challenges, OMV is committed to reducing emissions by substituting primary fossil-based resources with renewable and recycled alternatives, while working to avoid other negative impacts that come from making this switch, further demonstrating our commitment to environmental stewardship. Additionally, OMV views utilizing captured carbon in the future as a valuable input for products, energy solutions (e.g., e-fuels), and industrial processes. This innovative approach will help to lower our carbon footprint and create more sustainable products and energy solutions.
Achieving cost efficiencies through best practices related to circularity and resource efficiency is a key aspect of our strategy. By adopting circular economy principles, OMV can reduce waste and optimize resource use throughout our operations. Additionally, increasing the reuse of waste materials from our operations, reducing waste leakages, and optimizing waste management processes are essential steps in our efforts to minimize waste and enhance sustainability. By integrating these sustainable practices, OMV strives to create a positive impact on the environment and society, promoting a more sustainable and responsible value chain. Further information on material impacts, risks, and opportunities related to workers in the value chain is included in ESRS 2 General Information.