Management of Carbon Efficiency of operations

Management of carbon efficiency in operations is incorporated into the sustainability governance process, as described in Sustainability governance. The Executive Board approves carbon-related goals as part of the Sustainability Strategy. It also approves the Health, Safety, Security, and Environment (HSSE) Strategy, which reflects climate change targets, such as zero routine flaring by 2030. The current Sustainability Strategy and HSSE Strategy are defined for the period up to 2025.

As we achieved our 2025 target ahead of schedule, we will define new targets in 2020.

Sustainability Strategy 2025 target

Reduce the carbon intensity of OMV’s operations1CO2 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 into an OMV Group Carbon Intensity Operations Index, based on weighted average of the business segments’ carbon intensity by 19% by 2025 (vs. 2010)

Status 2019

  • Reduction of 22% achieved by 2019 (vs. 2010)

Action plan to achieve the target

SDG 7 – affordable and clean energy (icon) SDG 13 – climate action (icon)
  • Upstream Business Segment phasing out routine flaring and venting
  • Energy efficiency improvements in OMV Upstream and in refineries
  • Fugitive methane emissions reduction through field modernization and integrity improvement measures in OMV Petrom Upstream

1 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 into an OMV Group Carbon Intensity Operations Index, based on weighted average of the business segments’ carbon intensity