Sustainability Framework

We are committed to building a sustainable world worth living in – for everyone. Sustainability and circularity lie at the center of our Group strategy. We aim to become a net-zero business by 2050, accelerate the energy transition, and proactively expedite the transition from a linear to a circular economy. We build positive relationships with our employees, communities, suppliers, and other stakeholders, including by addressing social and economic effects of the transition to an environmentally sustainable economy.

Our Sustainability Framework is built around the three pillars Environmental, Social, Governance (ESG). We have made the following commitments, which lie at the heart of our Sustainability Framework, to propel our ESG journey:

Environmental:

• OMV continuously improves the carbon efficiency of its operations and product portfolio, is fully committed to supporting and accelerating the energy transition, and aims to become a net-zero business by 2050 or sooner.
• OMV is fully committed to acting on responsible natural resources management and will proactively expedite the transition from a linear to a circular economy.
• OMV aims to minimize environmental impacts by preventing water and soil pollution, reducing emissions, using natural resources efficiently, and avoiding biodiversity disruption.

Social:

• Health, safety, and security have the highest priority in all activities, and OMV is fully committed to proactive risk management to realize its HSSE Vision of “ZERO harm – NO losses.”
• OMV is committed to building and retaining a talented expert team for international and integrated growth, and we embrace our difference(s) and use our diversity of thought and experience as a catalyst for growth and creativity.
• OMV is committed to ensuring fair treatment and equal opportunities for all employees, and has zero tolerance for discrimination and sexual and non-sexual harassment.
• As a signatory to the United Nations Global Compact, OMV is fully committed to the UN Guiding Principles on Business and Human Rights, and aims to contribute to the UN’s 2030 Agenda for Sustainable Development by pursuing a social investment strategy that addresses local needs and the SDGs.
• OMV is committed to contributing to a Just Transition for our employees and communities, and addressing the social and economic effects of the transition to an environmentally sustainable economy.

Governance:

• OMV strives to uphold equally high ethical standards at all locations, and aims to earn stakeholders’ confidence by implementing a high standard of corporate governance and by maintaining high standards of transparency and predictability.
• OMV is committed to implementing sustainable procurement, which means caring about the environmental, social, and economic impacts of the services and goods the Company intends to purchase.

Our Strategy 2030 is underpinned by this Sustainability Framework, with all business decisions informed by our ambition to become a net-zero business. Within our Sustainability Framework, we have established five strategic focus areas: Climate Change; Natural Resources Management; Health, Safety, and Security; People; and Ethical Business Practices. For each of these focus areas, we have formulated concrete targets and actions to be achieved by 2030. These serve as OMV’s contribution to the UN 2030 Agenda for Sustainable Development.

Our sustainability ambitions, especially getting to net zero, can only be achieved with considerable effort and capital allocation. The Group has earmarked investments of more than EUR 13 bn for the purpose of achieving our emissions reduction targets.