Public Policy

The OMV Group recognizes that the regulatory framework can help achieve progress on issues such as resource efficiency, climate change, waste reduction, safety improvements, fair trade, and marine littering. Regulators, political stakeholders, and non-governmental organizations (NGOs) can all shape the regulatory framework that affect the Group’s business. Therefore, the OMV Group needs to understand the policy, regulatory, and NGO environment and ensure that it can contribute its knowledge and insight to discussions about the future of the regulatory framework.

The OMV Group participates in industry associations to support the understanding of issues, share knowledge, help develop standards, and provide input to regulatory authorities on behalf of the sector. OMV’s association activities make an important contribution to a broader debate on a sustainable, affordable, and secure energy future. The energy transition can only succeed if all stakeholders – including legislators, businesses, and society – engage in productive debates. As a voice of business, associations participate in precisely these important debates and contribute their proven expertise on various aspects of policy.

Management and Due Diligence Processes

Direct Political Engagement

The OMV Group is active in economic policy but does not support political parties. Donations to political parties are not permitted as per the Code of Business Ethics. Activities of political parties on the premises of the OMV Group are not allowed. There are no restrictions on engaging in political or public functions or engaging with special interest groups within the framework of legitimate secondary employment. However, it is not permitted to associate the OMV Group with such activities. As with other secondary employment, employees must conclude an agreement with OMV which regulates the details of such activities. Employees must disclose a conflict of interest between the exercising of political or other public functions and their employment with the OMV Group to their line manager and to Compliance.

Transparency

We are fully in line with all reporting obligations at national and EU levels, and we are fully compliant with all transparency requirements. Interaction with governments and regulators takes place at international, European, national, and local levels. The OMV Group actively participates in EU and national public consultations on legislative initiatives that are relevant to the Group’s business and is a member of relevant industry associations.

Monitoring of Participation in Industry Associations

The OMV Group actively participates in industry associations and standardization groups at international, EU, and national levels to stay at the forefront of regulatory and public requirements. OMV Group representatives make OMV’s position clear on issues tackled by the associations in which we are members. The Group aims to inform EU policies by engaging with major industry associations such as Fuels Europe, the European Chemical Industry Council (CEFIC), PlasticsEurope, and the Polyolefin Circular Economy Platform (PCEP).

Associations aim to adopt positions that reflect a consensus view among members, and thus may not always reflect the view of every member. We continuously monitor our memberships in associations and their positions on issues so we can consider whether our memberships remain appropriate. As part of our commitment to transparency on climate action, we report not only on our own position and action on climate change, but also on the position of key industry associations in which we are a member. The OMV Group reports annually on the alignment between the industry associations in which we are members and OMV’s position on climate change policies. Read our 2021 review here.

In cases of misalignment, especially partial misalignment, we will first advocate for changes in the association’s position. Where OMV’s position and an association’s position continue to fail to align, especially in cases of complete misalignment, we will reassess our membership.

2021 Actions

The following key activities were carried out across the Group in 2021:

• In 2021, the EU Green Deal and the Fit-for-55 package were the most relevant regulatory issues for OMV Group in the EU. Sustainable finance legislation, including the EU taxonomy, was on the agenda as well, and the OMV Group participated in the relevant public consultations.
• OMV Group is represented in the Platform on Sustainable Finance. As a permanent expert group of the European Commission, the Platform assists the European Commission in developing its sustainable finance policies, notably the further development of the EU taxonomy. Its main purpose is to advise the European Commission on several tasks and topics related to further developing the EU taxonomy and to support the Commission in the technical preparation of delegated acts in order to implement the EU taxonomy. In 2021, OMV’s expert worked in the Technical Working Group, developing technical screening criteria for the environmental objectives of the EU taxonomy.
• During our 2021 industry association membership review, we found some partial misalignments and have begun working with the associations in question to get them to full alignment.

Outlook

In 2022, the Fit-for-55 package will be the most relevant regulatory issue for the OMV Group in Europe as well as all initiatives regarding the circular economy and sustainable finance. The OMV Group will closely monitor upcoming public consultations. In addition, the OMV Group plans to publish an update of its industry associations review annually and to expand the scope of review further.