OMV, the integrated, international oil, gas and chemicals company based in Vienna, recognizes that climate change is one of the most important global challenges today and fully supports the goals set forth by the Paris Climate Change Agreement. OMV’s ambition is to achieve net-zero GHG emissions in operations (Scope 1 and Scope 2) by 2050 or sooner in line with the Paris Agreement and EU climate targets. OMV has endorsed the World Bank initiative “Zero routine flaring by 2030” to end the routine flaring and venting of associated gas during oil production by 2030.
As part of the company’s commitment to transparency on climate action, OMV intends to report not only on its own position and action on climate change but also on the position of the industry associations of which OMV is a member. A review process was established in early 2020 to ensure that the main associations of which OMV is a member also support the Paris Agreement.
In cases of misalignment, especially partial misalignment, OMV will first advocate for changes in the association’s position. Where OMV’s position and an association’s position continue to fail to align, OMV will reassess its membership. If OMV is not able to influence the association to adopt a more aligned position on a highly material issue, it will consider ending the participation or membership.
Please find the reports with findings and actions in detail below.