We are committed to building a sustainable world worth living in for everyone. Our decades of company history, experience and expertise, allow us to make a significant contribution to a climate-friendly future. We are aware of our responsibility and we will live up to our commitment to the Paris Agreement and the EU climate targets. As experts in geology, hydrocarbons, and chemical conversion processes, and with our power to innovate, our economic potential, and the ability to achieve what we set out to do, we are confident that we will be successful.
Our climate targets
- We will reach net-zero GHG emissions of operations (scope 1 and 2) by 2050 or sooner
On the way to the long-term ambition, OMV is setting concrete intermediate goals. By 2025 a reduction of at least 60% for Upstream and at least 20% for Refining will be achieved (both compared to 2010). This means the carbon intensity groupwide (excluding Borealis) is to be reduced by at least 30%. Between 2020 and 2025, OMV intends to reduce its CO2-equivalent emissions in operated assets by at least 1 mn t.
- We want to become a leader in the circular plastics economy
Here we will unify the chemical and mechanical recycling potential of OMV and Borealis and invest EUR 1 bn in innovative solutions like ReOil by 2025.
- We will continue to reduce the carbon footprint of our product offering
By 2025, at least 60% of our portfolio will consist of low and zero-carbon products. This means that we will increasingly use precious oil for petrochemical products, expand our gas, hydrogen and e-mobility offerings, and deliver advanced biofuels.
OMV CEO Rainer Seele: "In our sustainability strategy, we are now stating a long-term ambition of net-zero emissions for the first time. On the one hand, this will require short-term optimizations. In the long run, however, we will also need to draw on new technologies such as carbon capture and utilization or storage. Implementing these sustainable technologies in a way that is economically feasible will require an appropriate regulatory environment.
Click here to read the full interview.
OMV employees on carbon footprint reduction
Climate protection and reducing CO2 are at the top of the OMV agenda and concrete projects are being realized to this end, as shown in our new video series “OMV & The Climate”. OMV employees from a range of fields explain what they’re doing every day to reduce our carbon footprint.