Carbon Efficiency
Management approach
We recognize climate change as one of the most important global challenges today and acknowledge the goals set forth by the Paris Climate Change Agreement. OMV Petrom is fully committed to climate change mitigation and responsible resource management.
We are the first Romanian company supporter of the Task Force on Climate-related Financial Disclosures (TCFD). We set targets to manage and reduce the carbon footprint of our operations. Reducing greenhouse gases will decrease our environmental impact and have a positive financial impact by ensuring compliance with climate-related regulatory requirements and ensuring the efficient use of resources.
OMV Petrom decreased the GHG Intensity of its operations by 26% in 2020 vs.2010.This proves our efforts to achieve our strategic target of decreasing the GHG Intensity by 27% by 2025 vs. 2010. In 2020, the overall OMV Petrom’s GHG Intensity decreased by 7.5% vs. 2019. Exploration & Production significantly reduced the hydrocarbon vented by 52% in 2020 comparing to 2019 due to improved integrity and optimized gas infrastructure.
Direct GHG Emissions (Scope 1)
In 2020, OMV Petrom’s carbon dioxide (CO2), methane (CH4), and nitrous oxide (N2O) emissions levels directly related to our operations (Scope 1) totaled 3.99 mn t CO2 equivalent and was relatively stable comparing with previous year (2019: 4.24 mn t CO2 equivalent). Around 67% of our direct GHG emissions come from five EU-ETS installations in 2020.
Indirect GHG Emissions (Scope 2)
OMV Petrom’s indirect GHG emissions (Scope 2) are those related to the production of the energy we purchased (electricity and heat) for our operations. In 2020, our indirect GHG emissions totalled 0.094 mn t CO2 eq. (2019: 0.045 mn t CO2 eq.). The increase of indirect GHG emissions was mainly due to the extended scope with filling stations of which contribution amounted to 0.038 mn t CO2 eq.
Indirect GHG Emissions (Scope 3)
In 2020, our Scope 3 emissions were 24.74 mn t CO2 equivalent (2019: 26.06 mn t CO2 equivalent) and are related to the total product sales volumes of Petrom as stand-alone company. Around 94% of OMV Petrom’s products are directly used for combustion. The Scope 3 emissions from the use and processing of our products constitutes around 86% of our impact in terms of GHG emissions.
2025 Sustainability targets and 2020 achievements:
- Reduce carbon intensity of operations by 27% until 2025 vs. 2010
- 2020: 26% reduction vs. 2010
- No new projects with routine flaring and venting practice and phase out existing routine flaring and venting latest until 2030
- 2020: continued to implement projects to phase out routine flaring and venting
Supported United Nations Sustainable Development Goals (SDGs):
- SDG 3 – Good Health and Well-Being
- SDG 12 – Ensure sustainable consumption and production patterns
- SDG 13 – Climate Action
More details can be found in the Sustainability Reporting section.