OMV Releases Comprehensive Sustainability Report 2023, Demonstrating Progress and Commitment

OMV Releases Comprehensive Sustainability Report 2023, Demonstrating Progress and Commitment

(IN BRIEF) OMV has unveiled its Sustainability Report 2023, providing insights into the company’s management and performance across key Environmental, Social, and Governance (ESG) aspects. Aligned with the UN 2030 Agenda for Sustainable Development and OMV Strategy 2030, the report outlines achievements and targets in areas such as climate change, natural resources management, health and safety, human rights, and ethical business practices. Highlights include significant reductions in emissions, establishment of circular feedstock production capacity, investments in community and social initiatives, and strategic partnerships for sustainable solutions like chemical recycling and geothermal energy production. Prepared according to Global Reporting Initiative (GRI) standards and Austrian regulations, OMV plans to integrate financial and sustainability reporting annually starting next year to comply with the Corporate Sustainability Reporting Directive (CSRD).

(PRESS RELEASE) VIENNA, 26-Mar-2024 — /EuropaWire/ — OMV has published its Sustainability Report 2023, describing the management and performance of key Environmental, Social, and Governance (ESG) aspects for the OMV Group. The report provides an update on OMV’s strategic targets for material topics that fall into five focus areas: Climate change, natural resources management, health, safety and security, people, and ethical business practices. They are tied to the UN 2030 Agenda for Sustainable Development and underpin the OMV Strategy 2030.

Alfred Stern, OMV Chairman of the Executive Board: “Our sustainability journey has shown consistent progress in recent years, and this report underscores our commitment to comprehensive and transparent reporting practices. Furthermore, it signifies the importance of sustainability and circularity as key pillars of our Strategy 2030.”

OMV Sustainability Report 2023 highlights

• Absolute Scope 1 and 2 emissions decreased by 25% vs. 2019* and Scope 3 emissions cut by 10% vs. 2019
• 195.9 kta of circular feedstock production capacity established
• Waste recovery or recycling rate: 74%
• 71% of OMV Group employees trained in Human Rights
• Already achieved 2030 target of increasing the average number of annual learning hours to at least 30 per employee and spent EUR 12.3 mn on training
• EUR 45.2 mn used toward community and social investments
• OMV and Interzero established a joint venture (JV) to build and operate one of Europe’s largest sorting facilities for chemical recycling
• OMV and Wien Energie established a JV to produce geothermal energy
• Additional Memorandums of Understanding for the intended offtake of Sustainable Aviation Fuel (SAF) signed with Air France-KLM and Ryanair
• OMV and Wood signed a collaboration agreement for the commercial licensing of OMV’s ReOil® technology

The OMV Sustainability Report has been prepared in accordance with the standards of the Global Reporting Initiative (GRI) as well as the requirements of the Austrian Sustainability and Diversity Improvement Act (NaDiVeG).

As of next year, OMV will have an annual report combining the financial and sustainability statements to meet the requirements of the Corporate Sustainability Reporting Directive (CSRD).

*The OMV Group uses 2019 as its base year for all three scopes of emissions and for 2030, 2040, and 2050 targets because 2019 was the last full year before the COVID-19 pandemic and the majority of the OMV Group’s assets were operating for the whole of 2019.

About OMV Aktiengesellschaft
At OMV, we are re-inventing essentials for sustainable living. OMV is transitioning to become a leading sustainable fuels, chemicals and materials company with a focus on circular economy solutions, while operating today across three integrated business segments of Energy, Fuels & Feedstock, and Chemicals & Materials. By gradually switching over to low-carbon businesses, OMV is striving to achieve net zero by latest 2050. The company achieved revenues of EUR 39 billion in 2023 with a diverse and talented workforce of around 20,600 employees worldwide. OMV shares are traded on the Vienna Stock Exchange (OMV) and as American Depository Receipts (OMVKY) in the U.S. Further information at www.omv.com.

Media Contact:

International Media Relations:

Daniel Smith
+43 (664) 8567515
+43 (1) 40440 21472
media.relations@omv.com

Investor Relations:

Florian Greger
Tel.: +43 1 40440-21600
investor.relations@omv.com

SOURCE: OMV Aktiengesellschaft