OMV improves to Platinum level in EcoVadis sustainability assessment in 2021
OMV achieved the Platinum Medal in the annual EcoVadis sustainability assessment for the first time. EcoVadis is a provider of universal sustainability ratings, with more than 75,000 companies from over 200 industries taking part and committing to ensuring responsible sourcing throughout the supply chain. This result places OMV in the top 1 percent of all 75,000 companies rated globally by EcoVadis.
After reaching Silver level for five consecutive years, OMV was able to significantly improve the score in 2021. The EcoVadis assessment covers a range of CSR topics, grouped into four categories: environment, labor and human rights, ethics and sustainable procurement. In all four categories, OMV performed well above the average of the reference industry.
OMV’s achievements in sustainability are evaluated every year by multiple ratings agencies in the fields of Environment, Society and Governance (ESG). OMV was recently reaffirmed as holding an AAA rating from MSCI for the 9th year in a row, placing it among the best 10% of oil and gas companies.
In addition, OMV is included in the prestigious Dow Jones Sustainability Index and in the FTSE4Good Index, and has been awarded Prime Status by ISS ESG, a Leadership A- by CDP Climate Change, a level 4 (highest level) on carbon management quality by the Transition Pathway Initiative. It has also been rated as an industry leader by Sustainalytics, scoring a 28.4 (medium risk) in the new Sustainalytics ESG Risk Rating. OMV is additionally included in the Euronext Vigeo Europe 120 index and Euronext Vigeo Eurozone 120 index (based on its ratings by V.E, an affiliate of Moody’s) and maintained its inclusion in the STOXX® Global ESG Leaders index (based on OMV’s assessment by Sustainalytics) and in the ECPI® indices.
OMV produces and markets oil and gas, as well as chemical products and solutions in a responsible way and develops innovative solutions for a circular economy. With Group sales revenues of EUR 17 bn and a workforce of around 25,000 employees in 2020 (incl. Borealis), OMV is one of Austria’s largest listed industrial companies. In Exploration & Production, OMV has a strong base in Central and Eastern Europe as well as a balanced international portfolio, with Middle East & Africa, the North Sea, Russia and Asia-Pacific as core regions. Daily average production was 463,000 boe/d in 2020 with an emphasis on natural gas. In Refining & Marketing, OMV operates three refineries in Europe and owns a 15% share in ADNOC Refining and ADNOC Global Trading, with a total processing capacity of more than 500,000 bbl/d. Furthermore, OMV operates about 2,100 filling stations in ten European countries and runs gas storage facilities in Austria and Germany. In 2020, total natural gas sales volumes amounted to around 164 TWh. In Chemicals & Materials, OMV, together with its subsidiary Borealis, is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers and the mechanical recycling of plastics. The company supplies services and products to customers around the globe through Borealis and its two important joint ventures: Borouge (with the Abu Dhabi National Oil Company, or ADNOC, based in UAE) and Baystar™ (with Total, based in the US). Sustainability is an integral part of OMV’s corporate strategy. OMV supports the transition to a lower-carbon economy and has set measurable targets for reducing carbon intensity as well as for the implementation of new energy and petrochemical solutions.