Why a new strategy?
Climate change is one of the biggest challenges of our times. The world is already warmer by about 1 degree Celsius since the middle of the 19th century and we can see the effects. We, as a society, must therefore reduce greenhouse gas emissions to net zero by the middle of this century. The energy sector is at the heart of this challenge.
As the role of oil and gas diminishes, ensuring a secure and affordable supply of energy will remain a priority on the global agenda. In order to achieve a greener and smarter mobility system, we need to shift to alternative and sustainable feedstocks. Biofuel demand in Europe is expected to almost double by the end of this decade due to strict policies and consumer behavior.
Driven by global population growth and increasing prosperity and living standards, the demand for chemicals and materials will continue to rise. High-performance plastics are part of many products we use every day such as computers and mobiles. They make our cars and planes lighter and more fuel-efficient, and they save lives through airbags, helmets, and medical equipment. Lightweight solutions are essential to modern healthy living, but they are also key to delivering a low-carbon economy, given their properties: strong, flexible, and most importantly, inexpensive to produce. However, the ways we dispose of plastic must change. Plastics must become part of the solution, not the problem.
We at OMV have decided to find the right answers to these challenges.