OMV publishes Sustainability Report 2022
OMV published its 18th sustainability report today, which is also available in a digital format here .
OMV’s Sustainability Report 2022 details the progress made as a Company in the past year to deliver on our strategy. OMV is committed to becoming a net-zero company (across all GHG Scopes 1, 2 and 3) by 2050 at the latest, becoming a European leader in sustainable polyolefins and establishing a top global position in circular economy solutions.
The Sustainability Report 2022 gives a status update on OMV’s targets, which are tied to contributing to the UN Sustainable Development Goals, as well as its plans for the coming years. Some highlights featured in the Sustainability Report include:
- Absolute Scope 1 and 2 emissions decreased by 23% vs. 2019 and Scope 3 emissions decreased by 8% vs. 2019.
- Memorandums of Understanding (MoUs) for the intended offtake of Sustainable Aviation Fuels (SAFs) were signed with Lufthansa Group, Ryanair and Wizz Air.
- OMV and Wood signed a MoU to enter into a mutually exclusive collaboration agreement for the commercial licensing of OMV’s proprietary ReOil® technology.
- Successfully conducted a production and injection test in an existing well to assess the potential for geothermal energy in Austria.
- 117.8 kt of circular feedstocks were processed.
- EUR 49.5 mn used toward community and social investments.
- 100% of our new suppliers were screened for social and environmental criteria. The progress made in Sustainable Procurement was also recognized by CDP which recognized OMV as a CDP Supplier Engagement Leader in 2022.
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).
Background information
OMV Aktiengesellschaft
With Group sales revenues of EUR 62 bn and a workforce of around 22,300 employees in 2022, OMV is amongst Austria’s largest listed industrial companies.
In Chemicals & Materials, OMV through 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 plastics recycling. Together with its two major joint ventures – Borouge (with ADNOC, in the UAE and Singapore) and Baystar™ (with TotalEnergies, in the USA) – Borealis supplies products and services to customers across the globe. OMV’s Fuels & Feedstock business produces and markets fuels as well as feedstock for the chemical industry, operates three refineries in Europe, and holds a 15% stake in a refining joint venture in the UAE. OMV operates around 1,800 filling stations in ten European countries. In the Energy segment, OMV explores and produces oil and gas in the four core regions of Central and Eastern Europe, Middle East and Africa, North Sea, and Asia-Pacific. Average daily production in 2022 amounted to 392 kboe/d. Its activities also include the Low Carbon Business as well as the entire gas business.
OMV intends to transition from an integrated oil, gas, and chemicals company to become a leading provider of innovative and sustainable fuels, chemicals, and materials, while taking a leading global role in the circular economy. By switching over to a low-carbon business, OMV is striving to achieve net zero in all three Scopes by 2050 at the latest.
OMV shares are traded on the Vienna Stock Exchange (OMV) and as American Depository Receipts (OMVKY) in the U.S.