Stakeholders are defined as any individual or group that can help define value propositions for the organization, are reasonably influenced by the activities, products and / or services of an organization or their actions are likely to influence the organization's ability to successfully apply new strategies and achieve its goals.
Stakeholder engagement in OMV Petrom is essential for our sustainable development and brings mutual benefits. It helps us to learn from our stakeholders, identify and manage risks, build trust , strong relationships, and to identify business improvement methods. In addition, this helps the company to acknowledge, understand and respond to the expectations of its stakeholders.
Fully aware of societal changes and the way they are reflected in its performance, OMV Petrom promotes the establishment of good relationships with all relevant stakeholders (e.g. authorities, investors, capital markets, customers, suppliers, business partners, local communities, NGOs, employees or their representatives) as a means of managing the direct or indirect impact of these changes.
In 2017 we had an updated process to identify our stakeholders and prioritize them, in order to set up the OMV Petrom stakeholder map. See below :
We engage with our stakeholders in a broad range of ways. For all of them, our website, social media activities, Annual Report, Sustainability Report, Community Involvement Report, materiality analysis survey and other things fulfilled in corporate or in business divisions, provide transparent information sharing and opportunities to an active engagement.
More details about our Stakeholder Engagement can be found in the OMV Petrom Sustainability Report 2017 on pages 23-24.
OMV Petrom is member of a wide range of sector-specific associations and initiatives. The full list of memberships can be found in the OMV Petrom Sustainability Report 2017 on page 91.