- Climate change is a strategic priority for OMV Petrom
- Through sustained investments during the recent years, the carbon intensity of operations decreased by 26% in 2020 vs. 2010
- In 2020, we supported more than 60 social projects in the communities where we operate, with approximately EUR 6 mn
OMV Petrom, the largest energy company in Southeastern Europe, published its Sustainability Report for 2020. This showcases the company’s actions to reach the goals set forth by the Sustainability Strategy for the period 2019 - 2025, including the company’s contribution to the energy transition and the management of the COVID-19 pandemic. The report is prepared in accordance with the standards of the Global Reporting Initiative (GRI), the world’s most widely used guideline for sustainability reporting.
Christina Verchere, CEO OMV Petrom: “The unprecedented challenges brought by the pandemic have tested our ability, as individuals or companies, to adapt, innovate, and above all, show solidarity. At the same time, initiatives for a cleaner environment, a sustainable economy and equitable society have intensified. In 2020, we kept our promise to reliably provide energy, while making the safety, health and well-being of our employees and customers a priority. We showed our commitment to the energy transition, by continuing our investments to lower our carbon footprint and provide our customers with lower-carbon solutions. And last but not least, we continued supporting social initiatives that drive positive, long-lasting change in areas such as health, education and environment.”
The OMV Petrom Sustainability Report for 2020 presents the company's non-financial information in the following main areas of the sustainability strategy: health, safety, security and resilience, environment protection; carbon efficiency; business principles and social responsibility; employees; innovation.
Climate change and Energy Transition: improved carbon efficiency and solutions for cleaner energy
Climate change is a strategic priority for OMV Petrom. Constant efforts to optimize processes and to improve energy efficiency have led to a 26% decrease in carbon intensity of operations in 2020 vs. 2010, with the company thus approaching its strategic target of reducing carbon intensity by 27% by 2025. Projects for producing electricity from natural gas or those based on cogeneration (electricity and heat) also contributed to this result.
The report increases the level of transparency on climate change risks and opportunities, according to the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD). In 2020, OMV Petrom became the first company in Romania to announce its support for TCFD recommendations.
Relentless focus on safety and health and respect for diversity
Safety remains the main sustainability priority, and in 2020 the company recorded the lowest level of Lost Time Injury Rate since 2004 (LTIR - 0.15 compared to the target of <0.3), and no deaths.
Diversity plays a crucial role in driving innovation and business performance. At the end of 2020, 26% of OMV Petrom's management positions were held by women and 34 nationalities were represented within the company.
Support for communities and relevant projects for Romania
OMV Petrom constantly assesses the challenges faced by the communities in which it operates, from a social and environmental point of view, and invests in their long-term development. In 2020, the company funded more than 60 projects, in all regions where we have production activities, with approximately EUR 6 mn. The list of projects includes the largest private forestation campaign in Romania, with the aim of planting 1,500,000 seedlings by 2022, but also initiatives to support the healthcare system in the fight against the COVID-19 pandemic. We supported 17 front-line medical institutions, directly or through the Red Cross, by offering medical equipment, masks, disinfectants, testing equipment and tests for COVID-19.
The report and the details on OMV Petrom’s sustainability initiatives are available at https://www.omvpetrom.com/en/sustainability/sustainability-reporting.
About OMV Petrom
OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of 53 million boe in 2020. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high efficiency power plant. The Group is present on the oil products retail market in Romania and neighboring countries through 790 filling stations, at the end of March 2021, under two brands – OMV and Petrom.
OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51% stake in OMV Petrom. The Romanian State, through the Ministry of Energy, holds 20.6% of OMV Petrom shares, Fondul Proprietatea holds 7%, and 21.4% is the free float on the Bucharest Stock Exchange and the London Stock Exchange.
OMV Petrom is the largest contributor to the state budget, with contributions of approximately 32 billion euro in taxes and dividends paid between 2005 and 2020.
Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2020, the company has allocated approximately 72 million euro to develop communities in Romania, focusing on environmental protection, education, health and local development.
On July 29th, 2020, OMV Petrom announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD) regarding risks and opportunities on climate change.