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OMV's Sustainability Strategy 2025

OMV aims to provide a secure supply of affordable energy for the sustainable development of society and the economy while respecting the environment. Conducting business sustainably is crucial for OMV in creating and protecting value in the long term, in building trusting partnerships, and in attracting customers as well as the best suppliers, investors, and employees.

In 2018, OMV released its sustainability strategy covering five focus areas: HSSE, Carbon Efficiency, Innovation, Employees, and Business Principles & Social Responsibility. We continuously benchmark our performance against our targets in these areas. In 2020, as a result of having reached our climate targets early, we set new ones:

  • OMV aims to reach net-zero operations by 2050 or sooner
  • At least 60% reduction of carbon intensity in upstream, and at least 20% reduction of carbon intensity in refining operations, leading to a group-wide carbon intensity of operations reduction of at least 30% by 2025 (base year 2010)
  • Absolute reduction of at least 1 m t CO2 equivalent at operated assets between 2020 and 2025
  • At least 60% of the product portfolio will be low/zero carbon products by 2025

OMV recognizes climate change as one of the most important global challenges today and supports the goals set forth by the Paris Climate Change Agreement.

We are actively transforming our product portfolio towards a higher share of non-energy products and repositioning ourselves for a low-carbon future. Up to EUR 1 bn (EUR 500 mn by OMV, EUR 500 mn by Borealis) will be invested by 2025 in innovative solutions that contribute to the energy transition and to the circular economy, such as ReOil®, mechanical recycling, and Bio-oil Co-Processing.

Learn more about our targets, plans, and performance in each of our focus areas below.

The safety and security of our employees, communities, and the environment are top priority for OMV. In order to make its vision Zero harm No losses a reality, OMV is committed to proactive risk management. Thanks to this, OMV occupies a leading position among its peers in the industry. Building on this success, OMV has set  targets to further improve its performance and protect people and the environment.

Targets and further information:
 

  • Zero work related fatalities
    Status 2019: 0 
    Scope: Employees and contractors  
     
  • Stabilize Lost-Time Injury Rate at below 0.30 (per 1 million working hours)
    Status 2019: 0,34
    Lost-Time Injury Rate reflects the number of accidents with a lost working day per one million worked hours.
    Scope: Employees and contractors
     
  • Keep leading position for Process Safety Event Rate
    Status 2019: 0,15 / Leading position maintained
    Competition 2018: > 0,5
    Further information:
    Process Safety Event (PSE) Rate: Number of Tier 1 and Tier 2 PSE per million hours worked.
    Tier 1 PSE relates to a release of any material, leading to an employee or contractor having an accident resulting in a day off work, or leading to considerable impacts on environment or society. Tier 2 PSE relates to a leakage with minor impacts on employees, contractors, environment or society.

More information:

Supported United Nations Sustainable Development Goals (SDGs):

SDG 3 – Good Health and Well-Being
SDG 6 – Clean Water and Sanitation
SDG 8 – Decent Work and Economic Growth
 

OMV is committed to the goals of the Paris Climate Agreement, the EU climate targets for 2030, and the climate and energy strategy of the Austrian Federal Government derived from these. The area of carbon efficiency defines OMV’s contribution to the creation of a lower-carbon energy system. OMV aims to have net zero operations by 2050 or sooner.

As predicted by the International Energy Agency, oil and gas will continue to play a crucial role in the global transformation of the energy mix in the coming decades. Gas will play a decisive role in the energy transition. It can be used in almost all areas and also enables a rapid coal phase-out. In electricity production, gas emits 50% less carbon than coal. OMV will increase the share of gas in its upstream portfolio to over 65% by 2025 and also aims to double gas sales in Europe. 

Oil remains a valuable and important raw material which, however, will be refined in petrochemical processes rather than burned. OMV focuses on high-quality refinery products such as low-emission premium fuels, and feedstocks for the chemical industry. With the acquisition of Borealis, we are taking a key step to transforming our product portfolio, with the goal of using our equity oil for the production of petrochemicals.

Our goal is to have at least 60% of our product sales be low/zero carbon by 2025.

Targets and further information:
 

  •  Lower the carbon intensity of OMV’s Upstream operations by ≥60% (vs. 2010)
    Status 2019: - 30% vs. 2010
    Scope: Operated assets (Scope 1)
    Further information:
    The carbon intensity pertains to CO2 equivalent emissions produced to generate a certain business output using the following business-specific metric ‒ Upstream: t CO2 equivalent/toe produced.
     
  • Lower the carbon intensity of OMV’s refining operations by 20% (vs. 2010)
    Status 2019: - 18% vs. 2010
    Scope: Operated assets (Scope 1)
    Further information:
    The carbon intensity pertains to CO2 equivalent emissions produced to generate a certain business output using the following business-specific metric ‒ Refining: t CO2 equivalent/t throughput (crude and semi-finished products without blended volumes).
     
  • ≥ 1 mn t CO2 equivalent emission reductions at operated assets between 2020 and 2025'
    Scope: Operated assets (Scope 1)
    Further information: Includes divestments.
     
  • Achieve zero routine flaring and venting of associated gas as soon as possible, latest by 2030
    Status 2019: –37% in Upstream in 2019 vs. 2010
    Scope:  Operated assets
    Further information:
    The -37% in Upstream in 2019 refers to total (including non-routine) flaring and venting. OMV is committed to ending routine flaring and venting by 2030 as a member of the World Bank Zero Flaring by 2030 Initiative.

    Based on the reduction targets above, the carbon intensity of OMV’s operations will decrease by at least 30% by 2025. The carbon intensity pertains to CO2 equivalent emissions produced to generate a certain business output using the following business-specific metric ‒ Upstream: t CO2 equivalent/toe produced, Refining: t CO2 equivalent/t throughput (crude and semi-finished products without blended volumes), Power: t CO2 equivalent/MWh produced - consolidated into an OMV Group Carbon Intensity Operations Index, based on weighted average of the business segments’ carbon intensity This new intensity reduction corresponds to the previous target of a 19% reduction by 2025 (vs. 2010).
     
  • Share of low or zero carbon products in total products ≥60% in 2025
    Status 2019: 52%
    Scope: Low or zero carbon sales are oil & gas to non-energy, gas to energy, renewables, power and petrochemicals third party sales.
    Further information: 
    This target will result in a >6% reduction of the carbon intensity of OMV’s product portfolio by 2025 vs. 2010 (CO₂ equivalent emissions generated by the use of OMV’s products sold to third parties in t CO₂ equivalent/toe sold) (previous target: -4% by 2025 vs. 2010; 2019: -4% achieved).

More  information:
Sustainability Report
Carbon Efficiency

Supported United Nations Sustainable Development Goals (SDGs):

SDG 7 – Affordable and Clean Energy 
SDG 13 – Climate Action

OMV’s innovation efforts focus on optimizing production, exploring high-end petrochemical solutions, developing innovative energy solutions, and embracing digital technologies. Innovation is facilitated by investment and partnerships in the research and development of innovative technological solutions. In total, OMV and Borealis will invest up to EUR 1 bn by 2025 in innovative energy solutions such as ReOil, Co-Processing, hydrogen, and mechanical recycling for a circular economy and lower-carbon future.

Targets and further information:
 

  • Develop ReOil to an industrial scale process (unit size of ~200,000 tons per year) with commercially viable economics until 2025
    Status 2019: 100 t of post-consumer plastics transformed into synthetic crude 
    Further information:
    In the ReOil research and development project, waste plastics are converted back into high-quality crude, which can then be further processed into fuels or high-quality plastics. The pilot plant at Schwechat Refinery processes 100 kg of waste plastics per hour to produce 100 l of synthetic crude. OMV aims to develop ReOil into a profitable, industrial-scale process with a capacity of around 200,000 tonnes per year.
     
  • Raise the share of sustainable feedstock co-processed in the refineries to ~ 200.000 t per year by 2025 
    Status 2019: Process Design Package finalized for Schwechat refinery and process studies finalized for Petrobrazi refinery
    Further information:
    Co-Processing is an innovative method in which biogenic substances such as rapeseed oil, used food-grade oils, and advanced feedstocks such as algae oil are refined together with crude oil to produce diesel with a higher bio content. In contrast to conventional biofuel mixtures, Co-Processing improves fuel quality, in particular in regards to the energy content. OMV aims at raising the part of sustainable feedstock co-processed in the refineries to ~ 200.000 t per year by 2025.
     
  • Increase the recovery factor in the CEE region in selected fields by 5-15 percentage points until 2025 through innovative Enhanced Oil Recovery methods 
    Status 2019: Additional production of about 100 kboe in 2019
    Further Information:
    The projects are targeted, amongst others, at an ecologically more efficient oil production in the overall portfolio.  Through the increase of the recovery rate in mature fields, we reduce the environmental impacts and impacts on society of our overall portfolio.  OMV Austria is investing in the development and implementation of state-of-the-art technologies to further recover more of the deposits in our mature fields. OMV Austria acts as a "field laboratory" for testing and developing new technologies. 

More information: 
Sustainability Report
More information on ReOil
More information on Co-Processing

Supported United Nations Sustainable Development Goals (SDGs):

SDG 8 – Decent Work and Economic Growth 
SDG 9 - Industry, Innovation and Infrastructure
SDG 12 – Responsible Production and Consumption 
SDG 13 – Climate Action 
 

OMV sees its employees as the key to its success. OMV is committed to its diversity strategy focusing on gender equality and internationality. Diversity is an enormous strength that we are actively leveraging by creating diversity-based business value. We have embedded diversity targets into our people processes, such as recruitment, talent and succession planning, learning, and leadership development. We continuously monitor gender, age, employee background, seniority, and salary equality to ensure fair treatment and equal opportunities at all career levels. At the same time, we strive to continuously develop new initiatives and measures that promote diversity and equal opportunity. 

Targets and further information:
 

  • Increase share of women at management level to 25% by 2025 
    Status 2019: 19.6%
    Further Information:
    Management: Executives and Advanced career level that includes Senior Vice Presidents, Vice Presidents, Heads of Department, Senior Advisors
     
  • Keep high share of Executives with international experience at 75%
    Status 2019: 77%
    Further Information:
    By „international experience“ we mean having lived and worked abroad for three years or more

    More information:
    Sustainability Report
    More information on diversity

Supported United Nations Sustainable Development Goals (SDGs):

SDG 5 – Gender Equality
SDG 10 – Reduced Inequalities 

OMV can look back on a long history of doing business in a socially responsible way and creating added value for society. The guidelines for these activities are the United Nations (UN) Global Compact, the UN Guiding Principles for Business and Human Rights, and the UN Sustainable Development Goals. By 2025, OMV will review its stakeholder dialog at all sites according to the UN’s effectiveness criteria and train employees in human rights and business ethics issues. Compliance with business principles also needs to be ensured at suppliers, which is why sustainability audits are increasingly being carried out.

Targets and further information:
 

  • Promote awareness of ethical values and principles: conduct in-person or online Business Ethics trainings for all employees 
    Status 2019: 11,144 employees took online training on business ethics
     
  • Assess Community Grievance Mechanism of all sites against UN Effectiveness Criteria by 2025
    Status 2019: 5 out of 10 sites in scope assessed
    Further Information:
    Grievance Mechanisms are established at all OMV operating sites. Excerpt from the UN Effectiveness Criteria: Transparency, Accessibility, Source of continuous learning, Dialogue based.
     
  • Conduct human rights trainings for all employees exposed to human rights risks by 2025 
    Status 2019: 82% of target group trained by end of 2019
     
  • Increase the number of supplier audits covering sustainability elements to >20 per year by 2025 
    Status 2019: 11 supplier audits conducted

More information:
Sustainability Report
More on Business Ethics and Anti Corruption
More on human rights at OMV 
More on Supply Chain Management at OMV

Supported United Nations Sustainable Development Goals (SDGs):

SDG 4– Quality Education
SDG 8 – Decent Work and Economy Growth
ADG 10 – Reduced Inequalities
SDG 16 – Peace, Justice and Strong Institutions
 


Our public commitments

OMV is a signatory to the United Nations (UN) Global Compact and is fully committed to the UN Guiding Principles on Business and Human Rights. As an integrated oil and gas company with an international presence, through projects and initiatives we continue supporting the Sustainable Development Goals (SDGs) defined by the UN General Assembly in 2015. Our projects and Key Performance Indicators (KPIs) are assessed with regard to their contribution to the SDGs. OMV recognizes that climate change is one of the most important global challenges and acknowledges the goals set forth by the Paris Climate Change Agreement. We are a supported of the Task Force on Climate-related Financial Disclosures (TCFD). As part of our carbon strategy, we have endorsed World Bank’s “Zero routine flaring by 2030” initiative to end the routine flaring and venting of associated gas during oil production by 2030.

Documents from the Sustainability Strategy Launch in 2018:
Sustainability Strategy Handout (PDF, 5,0 MB)
Factsheet Sustainability Strategy 2025 (PDF, 1,9 MB)
 
Blog and Links:

Sustainable and responsible in the oil and gas industry
Press Conference Webcast [German]
Press Conference Transcript [German]
Press Conference Transcript [English]