The material impacts, risks, and opportunities identified are related to our positive contribution to the local economy, which involves the responsible and equitable distribution of economic value among various stakeholders, potentially enhancing our reputation and offering increased incentives for investors. However, reduced payment of local taxes and royalties due to economic downturns or business contraction could impact contributions to communities, while low economic value distribution leads to fewer incentives for different major stakeholders. OMV’s active contribution to the local economy can drive new business opportunities, showcasing the upside potential of such involvement. This positive contribution also yields a positive impact on community investments, demonstrating the benefits of OMV’s economic activities in local development efforts. Additionally, geopolitical and economic uncertainty can lead to higher taxes and regulatory changes. These challenges can result in a loss of reputation for OMV, as lower economic value distribution reduces opportunities and erodes the Company’s standing with communities and investors, with examples including reduced payments to local budgets. Each of the IROs for the OMV Group identified under G1 Economic Impact is linked to all three OMV divisions (Energy, Fuels & Feedstock, and Chemicals) within our own operations. Furthermore, some of these IROs also extend to our upstream and/or downstream value chain.
