OMV Publishes Sustainability Report 2021 & Details New Sustainability Targets

Source: www.gulfoilandgas.com 4/13/2022, Location: Europe

OMV, the international, integrated oil, gas and chemicals company headquartered in Vienna, has published its 17th sustainability report today – also available in digital form here.

Last month, OMV presented its new Group Strategy 2030, which puts sustainability front and center. To ensure long-term sustainable success and the ability to deliver attractive returns for all stakeholders, OMV commits to becoming a net-zero company in Scope 1, 2 and 3 by 2050 at the latest. The plan foresees an emissions reduction of 30% for Scope 1 & 2 and a 20% reduction for Scope 3 by 2030 (vs. 2019).

Sustainability means more than lowering greenhouse gas (GHG) emissions. OMV has put an equally strong focus on health and safety, people, resources, and ethical business practices. OMV’s Sustainability Report 2021 details the new sustainability targets and commitments, the progress the company made in 2021, and its plans for the coming years. OMV’s targets are tied to contributing to the UN Sustainable Development Goals, and include:
• Clear, ambitious absolute and intensity GHG reduction targets across all Scopes
• A “ZERO harm – NO losses” approach for OMV employees and contractors
• A commitment to a Just Transition towards a climate-neutral economy in a fair way, addressing social and economic effects
• A goal to increase the proportion of women at management level and board level to 30%
• At least 1% of OMV’s net income to be spent on strategic social investments
• A plan to extend sustainability evaluations to all key suppliers and reduce the carbon footprint of the supply chain

The OMV Sustainability Report is prepared in accordance with the standards of the Global Reporting Initiative (GRI) – the world's most widely used guidelines for sustainability reporting – as well as the requirements of the Austrian Sustainability and Diversity Improvement Act (NaDiVeG). The report follows the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and the disclosures recommended by the Sustainability Accounting Standards Board (SASB).


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